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.