Did you know, because of longer life expectancies, women tend to spend their final years alone due to widowhood or divorce. Some may never marry. A woman’s retirement could last 30 years or more, often relying on a single income.
Set the Stage
Be clear about what you do and don’t know. i.e. taxes, investing, estate planning?
Set up your team of resources. Use Purse Strings to chat with a financial planner (link) who might meet your needs. Perhaps you could use an accountant or attorney.
Even if you made mistakes in the past (emotional investing, lack of diversification, putting all your money in a savings account) no worries. Start now and get back on track!
Prepare for the unexpected. Make sure all of your financial papers are in one file that is easy to access. (I use a travel file with a handle from Target and a few file folders – easy!)
Ask your questions using Purse Strings ask an expert feature (link)
Have conversations with your partner or spouse that describe what retirement looks like for the both of you. Be sure you are planning together.