Thursday, September 27, 2007

Fargo Area Women: Valley Women Must Focus on Retirement Income.


Fargo Media: His message is for all the women out there in the Fargo Moorhead Area: Whether or not you are the breadwinner in your household, preparing for retirement should be extremely important to you! One item of planning that must be considered is the financial situation of a surviving spouse and what can be done to prepare for a potential shortfall.

Women survive their spouses more often then men. The Administration on Aging estimates that seven of ten women will outlive their husbands, [1] highlighting the need for retirement planning even more.

Unfortunately, women are often at a disadvantage when it comes to resources available for retirement. The average woman spends nearly 15 years away from the workforce, while the average man will be away for 1.6 years. This translates into lower benefits from company pensions, 401(k) plans and Social Security.

Various estimates indicate expenses after the death of a husband will be 80 percent of what they had been when he was alive. Unfortunately, a widow’s income may likely be much less than what will be needed to cover expenses. Of all elderly persons with income below the poverty level, over 70 percent are women. [2] More than half were much better off financially before their husbands died.

Less time in the workforce may also mean that fewer women qualify for health benefits. This can put an even greater burden on their retirement income. It is imperative for women to start saving now for their retirement, which can be accomplished through several savings vehicles. It is equally important to protect your nest egg through adequate life insurance coverage and insurance options should your health care needs change. Adequate planning for retirement and surviving a spouse can be a deciding factor in living comfortably.

Taking the time to examine the household finances and planning carefully will help to ensure there are adequate means of support for either spouse during the golden years. Talk to a qualified individual about your retirement needs to prepare for and enjoy a comfortable retirement in Fargo Moorhead.

More Fargo Moorhead Media Here.
Fargo Women
Fargo Printing: Save Money with us Locally Fargo Moorhead Printing Service

Phone: 701-261-8637


Email: lindsay@redriverhomeguide.com
Please Be Patient while it loads
Thanks For Considering us for your Print Business

1 comment:

Find Fargo Real Estate or FM Realtors said...

A blog dedicated to woman in business within the Fargo Moorhead area. Fargo Moorhead Area. Fargo forum, Fargo area woman, fargo business women Fargo stuff, Fargostuff.com
Fargo area woman is a great tool for information on women in business in the Fargo Moorhead area. Tons of content for you to float around in and enjoy. fargo, ND 58102 cass county.

Search Key Words For Home For Sale ND MN