I am thrilled to share our latest episode of Market Mythbusting, focusing on a crucial topic for all women! Joined by the fantastic Anne Ackerley, we're shattering misconceptions about women and retirement planning. From the gender pay gap and caregiving responsibilities to potential innovative solutions like target date ETFs, we tackle the pesky myths hindering retirement preparation and provide actionable advice to help you empower your financial future.
Women face unique challenges in retirement planning, but remember, it's never too late to start! Tune in below to hear more about the insights and tools needed to plan effectively for retirement, wherever you are in your journey.
(laughter) It's not true. Women face a different set
of challenges than men. I mean, first there's the gender pay gap. You know, women make less,
typically, than men do so then they're saving less. You know, second women provide 80% of the caregiving in the
United States, whether it's for childcare or elder care, and they have periods
of time when they're out of the workforce, and
yet women live longer, and so that money has to last longer. It all adds up, and there are things we can
do about it starting now. First of all, it's
never too late to start, even if you get started right now, you have time on your side as well as the effects of compounding. Also, if you traditionally
haven't had a 401k that was provided to you by an employer, there are many other
very innovative solutions that are in the marketplace
now, such as a target date ETF. I mean, target date ETFs are great for many things actually. They're great for investing
for retirement, saving for a home, you know, saving for your kids' college education. And what that does when
you're looking into buying a target date ETF, is you're picking out that target date that you're saving for. So you were talking
about saving for a home. If that's something that you
want in the next 10 years, you pick that target date. That's 10 years from now. No matter who you are, whether or not you are the main
financial provider, everyone, men and women should take control
of their financial futures. Life throws us so many unexpected things. If there are ups and downs in the future, having
control, having some agency, especially over your retirement, will make you better prepared, will make you feel more empowered. There are so many ways
you can take control of your financial future. And we talk about this all the time. - Yeah, we do actually, we do.
- We do. - We do talk about it all the time. This is hard. It's hard
to think about saving for retirement, which could be so far out when you've got a lot of debt. I have two young adult children,
they have student debt, credit card debt, and I see them struggle. You know, how do you balance paying off that debt with saving? You can start small any
amount, just start small, start saving a little,
get it in the market and get that impact of compounding. The one thing that I would
say you can also consider is the interest rates that
is charged on your debt. And compare that to what is available to you in the equity markets,
in the stock markets, if you are invested for a period of time, and if you're invested
in a diversified manner. And that's something that
you can take into account as you are making some of
those decisions around debt and saving for retirement. That was very heartfelt. This
whole thing is very heartfelt. I didn't start putting money
in my 401k until my thirties. - Yeah, me neither.
- That makes me feel so good! Thank you
In relationships, men often take the lead in mapping out retirement plans. But here's an important fact to consider - 𝘄𝗼𝗺𝗲𝗻, 𝗼𝗻 𝗮𝘃𝗲𝗿𝗮𝗴𝗲, 𝗼𝘂𝘁𝗹𝗶𝘃𝗲 𝘁𝗵𝗲𝗶𝗿 𝗺𝗮𝗹𝗲 𝗰𝗼𝘂𝗻𝘁𝗲𝗿𝗽𝗮𝗿𝘁𝘀.
That's why it's crucial for women to have a 𝗳𝗶𝗿𝗺 𝘂𝗻𝗱𝗲𝗿𝘀𝘁𝗮𝗻𝗱𝗶𝗻𝗴 of retirement planning too. After all, in many cases, they'll be living longer in the golden years that have been created! 🌅
We believe in 𝗲𝗺𝗽𝗼𝘄𝗲𝗿𝗶𝗻𝗴 𝘄𝗼𝗺𝗲𝗻 to take an active role in shaping their financial futures. See the 𝗹𝗶𝗻𝗸 𝗯𝗲𝗹𝗼𝘄 to check out our short video series, "The 3 Things Women are Concerned About in Retirement"!
𝙍𝙚𝙩𝙞𝙧𝙚𝙎𝙄𝙈𝙋𝙇𝙔™ 𝘿𝙁𝙒 airs every Saturday at 9 am on Fox4! 👀
https://loom.ly/Kgn3utU#YouTube#womenandmoney#financialeducation
Registered Financial Professional | Wealth Manager | Financial Life Coach, helping Individuals, families & businesses to Plan, Accumulate, Grow, Preserve & Manage wealth to align their values and purpose with goals.
As women continue to make strides in the workplace and beyond, it's essential to address the unique challenges they face when it comes to retirement planning. From longer lifespans to different income trajectories, women must navigate a complex financial landscape to secure their golden years.
Our team is dedicated to helping women overcome these obstacles and build a solid foundation for a comfortable and fulfilling retirement. With tailored strategies and expert guidance, we'll empower you to take control of your financial future and achieve the retirement you deserve!
Let's break down barriers and uplift one another! Share your retirement goals and let's start a conversation about financial empowerment for women.
#WomenOnTheRise#RetirementPlanning#FinancialEmpowerment
Did you know? The gender wage gap can have an impact on a woman's preparation for retirement.
Women, on average, earn less than men over their lifetimes, which can lead to lower retirement savings and Social Security benefits.
This disparity means that women need to be even more proactive and strategic in their retirement planning.
It's essential to consider factors such as longevity, healthcare costs, and potential career breaks when creating a retirement strategy.
Taking control of your financial future is empowering.
Reach out if you have any questions about your current financial plan.
Living longer is undisputed trend, but ensuring quality of life in those later years is often neglected in retirement planning. As we grow older, the interconnectedness of wealth, health, meaningful relationships, and a sense of purpose becomes more important . How can we enhance these aspects purposefully plan for good outcomes?
Creating and maintaining a detailed and frequently reviewed financial plan is essential for financial health. Physical well-being can be bolstered through nutrition, exercise, and sleep. Emotional and social fulfilment can be cultivated by engaging in volunteer work, continuing education, artistic activities, and social gatherings. Capital Partners can help you to retire with purpose. Find out more: https://lnkd.in/gFweXuPU.
Will yours be a retirement or a renaissance?
The one reason why you should start an online business today? 🌟 Roadmap 3.0 is your key to a stress-free retirement! Designed for women over 50, it simplifies the process and offers the freedom you’ve been dreaming of. Ready to unlock your potential? Comment "MORE" below!
#RetirementGoals#WomenEntrepreneurs#FinancialFreedom#OnlineBusiness#WomenOver50#Roadmap3.0
https://lnkd.in/gQTjXEzV
We go live on YouTube at 7 PM PST/ 10 PM EST. If you’d like to be eligible to participate in the Tiffany Wine Glass Raffle, you can RSVP by clicking on the ZOOM link (must be on zoom for goodie bag & raffle eligibility) in the YouTube live description.
This event is open to everyone, regardless of gender identity, sexual orientation, race, ethnicity, or background. Though we’ll focus on financial topics relevant to women, the content will be beneficial for all.
We appreciate your continued support and hope you’ll join us for this final session on retirement planning before we shift to Medicare and long-term care.
Why Attend?
Maximize savings and minimize taxes.
Learn about 401(k)s, IRAs, rollovers, and tax strategies.
Avoid hidden fees and losses that can impact your retirement.
While it's true women have longer life expectancies, it can often make funding retirement that much harder. As you face unique challenges on your road to financial security, it's important to have someone by your side who knows how to navigate them. Whether retirement is around the corner or still a long ways off, learn what you can do now to better prepare for the road ahead and let's chat.
While it's true women have longer life expectancies, it can often make funding retirement that much harder. As you face unique challenges on your road to financial security, it's important to have someone by your side who knows how to navigate them. Whether retirement is around the corner or still a long ways off, learn what you can do now to better prepare for the road ahead and let's chat.
While it's true women have longer life expectancies, it can often make funding retirement that much harder. As you face unique challenges on your road to financial security, it's important to have someone by your side who knows how to navigate them. Whether retirement is around the corner or still a long ways off, learn what you can do now to better prepare for the road ahead and let's chat.
Managing Director & Head, iShares Canada at BlackRock
7moLove this!