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It's Time To Take Control Of Your Financial Future


In today's world, women are emerging as powerful financial decision-makers, balancing careers, family, and personal ambitions with savvy money management. Despite historical challenges and ongoing disparities, women are increasingly taking control of their financial destinies, building wealth, and achieving financial independence.

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Empower yourself with knowledge, take proactive steps toward financial goals, and don't hesitate to seek support. With determination and informed decision-making, women can confidently navigate financial challenges and build prosperous futures.

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WOMEN ARE GENERALLY LESS PREPARED FOR RETIREMENT THAN MEN! HERES WHY?

  • Women tend to start saving later in life. 

  • Women tend to live longer

  • Women take "Time-Outs" from work

  • Women Typically Earn less money than Male Counterparts

  • Social Security checks tend to be lower

  • Single mothers are often the poorest during Retirement

  • Women often make fewer investments.

 

Every woman knows that there are inequities between women and men when it comes to financial matters, but few know exactly what they are or how to overcome them.

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At Financial 411, we work and educate women to help them become aware of the challenges, deal with them accordingly, and plan for their own retirement by making wise financial decisions.

Growing numbers of working women face the need to plan their finances more effectively, especially when it comes to retirement. These 17 facts raise awareness of the retirement risk that women face:

  • Only 10 percent of women are “very confident” in their ability to fully retire with a comfortable lifestyle      

 

  • 53 percent of women plan to retire after age 65 (40 percent) or not at all (13 percent).

 

  • Half (50 percent) plan to work after they retire.

 

  • Are women being proactive enough to continue working past age 65? While 62 percent say they are staying healthy, only 54 percent are focused on performing well at their current job and 42 percent are keeping their job skills up to date.

 

  • Most women (64 percent) do not have a backup plan if forced into retirement sooner than expected.

 

  • 72 percent are saving for retirement through a workplace plan and/or outside of work in an IRA, mutual fund, bank account, etc. Women started saving for retirement at age 28 (median).

 

  • 47 percent expect their primary source of retirement income will be 401(k)/403(b) accounts/IRAs, and/or other savings and investments, while 27 percent expect to rely on Social Security.

 

  • 68 percent of women are offered a 401(k) or similar employee-funded retirement plan. However, 26 percent work part-time and are therefore less likely to have workplace retirement benefits.

 

  • 75 percent of women who are offered an employee-funded plan participate in the plan and they contribute 6 percent (median) of their salary to the plan.

 

  • Women believe that they will need to save $500,000 (median) in order to feel financially secure in retirement; among those who estimated their savings needs, 56 percent say they “guessed.”

 

  • Women’s total household retirement savings is $34,000 (estimated median).

 

  • Women’s emergency savings is just $2,000 (estimated median).

 

  • 57 percent of women say information that is easier to understand would motivate them to learn more about retirement.

 

  • Only a quarter of women (25 percent) are aware of the Saver’s Credit tax credit.

 

  • 38 percent of Baby Boomer women say they know a great deal or quite a bit about Social Security.

 

  • 82 percent of women are concerned that Social Security won’t be there for them when they are ready to retire.

 

  • Women’s number one retirement priority for the new President and Congress is fully funding Social Security so that it can continue to pay future generations (59 percent)

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We Value the opportunity to discuss innovative strategies (often overlooked by many advisors) that can help you strengthen your financial future. Contact us today to schedule a complimentary, no-obligation strategy session. Let's work together to build a stronger, more secure financial plan tailored just for you.

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