Women's Savings Initiative
When it comes to women and retirement, the numbers say it all: over the next two decades, nearly 40 million women will reach retirement age. While many of them will be ready to leave the workplace, many simply wonít be able to afford it.
Consider that nearly two-thirds of working women earn less than $30,000 a year. And nearly half of all women work in low-paying jobs without retirement plans or 401(k)s. Not to mention women still earn on average 77 cents for every dollar earned by men.
More women than men are likely to work part time, too, which means they often have less socked away for retirement. Add to this the fact that women outlive men and you realize only 34 percent of women between the ages of 75 and 84 are married with a spouse present. That means a steep drop in income from pensions and even Social Security.
These statistics are daunting to say the least. That's why Visa's Practical Money Skills for Life, with the help of the Heinz Family Philanthropies, and The Women's Institute for a Secure Retirement are offering these valuable resources for women.
Here are some steps to get you started.
1. Listen to (and read) What Women Need to Know About Retirement
Planning for retirement might seem mysterious or even scary, but it shouldn't be. Thatís why Visa Inc. has teamed up with the Heinz Family Philanthropies and the Women's Institute for a Secure Retirement (WISER) to present their eBook "What Women Need to Know About Retirement."
2. Sign up for the Practical Money Skills for Life Monthly Newsletter
Sign up to receive all the best of Practical Money Skills for Life delivered fresh to your inbox once a month. Each month, we deliver articles, calculators and tools, and stories to help you get the most from your money.
3. Learn to manage your money, and your life
Check out these other free resources to learn more about managing your money, and taking control of your financial life.
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