We are all going to get to retirement eventually, but our journeys may look very different getting there. There are a lot of risks women face when it comes to saving for retirement. In a male-dominated field like the financial industry, it can feel like their risks are not discussed enough.
The wage gap, less time in the workforce in order to raise children, and taking care of the family are all risks women may face while saving for retirement. There are solutions though, you can frontload your retirement in your late 20s or delay your Social Security when you are full retirement age. On today’s episode, we are going to discuss the risks women face and what we can do to better prepare ourselves for the future.
What we discuss on the show:
0:59 – Happy New Year!
1:31 – CNBC Article
2:38 – The gender gap
3:47 – The risks women face
5:57 – What can be done?
8:55 – Utilize a spousal IRA
9:31 – Delaying Social Security
11:29 – Taking advantage of Roth IRAs
12:53 – Where do you start?
“An advisor can help you with running the numbers and coming up with a strategy to get the most out of Social Security… they make sure that your Social Security fits your vision for retirement.” – Shari Rash