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Practical Money Matters Radio Series

September 10, 2012
Women and Personal Finances


Find out how women, in particular, can protect themselves and their financial futures.

Transcript

The good news for women is they usually live longer than men. The bad news is they often earn less and take more time off to raise children. This leaves many women with less in savings and smaller retirement and Social Security benefits.

To get on the road to financial wellbeing, first develop a budget to track your income and expenses. Start planning for retirement now. Social Security has an online Retirement Estimator that can help. Make sure you're setting money aside in an IRA or 401(k) plan. Get credit cards and loans in your own name, in case you're ever divorced or widowed. And have adequate health and disability insurance, in case of an unexpected illness or injury.

Bottom line: Women live longer, so they need careful planning to ensure a secure retirement.


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