You can read more about our commitment to accuracy, fairness and transparency in our editorial guidelines. Negotiation can be one of your most valuable skills when it comes to earning what you’re worth and, subsequently, having the funds to prepare for your retirement. Aviva Pinto, managing director of Wealthspire Advisors, told Annuity.org in an email that women must be aware of different factors in their long-term plan.
If you feel like progress toward your retirement savings goals has slowed, the tips below from McGregor and several other Merrill women senior leaders can help you get back on track. Women are more likely to become caregivers for elderly relatives, which can impact their ability to save for retirement.
Disability policies are generally inexpensive and available through countless companies. You can even tack them to existing coverage or bundle services to save money. Either way, this step helps you protect your assets and investments when something goes wrong.
Understanding how retirement planning looks different for women than it does for men can greatly impact the decisions you make when preparing for the later years of your life. This guide outlines specific things you can do to get ready for your retirement. Then, track your progress and adjust the standards to meet deadlines and goals. And if all else fails, hire a financial advisor to help with the details.
Read more about how to save money on essentials1managing debt as a woman here.
However, with careful planning and preparation, it is possible to overcome these challenges and build a secure retirement. By negotiating for higher pay, planning for healthcare costs and elderly care, and seeking financial advice, women can take control of their financial futures.
