You probably started thinking about retirement the day you entered the workforce. For some of us, retirement is very far off. For others, it’s right around the corner. No matter what stage of life you’re at, PA retirement income planning should always be at the top of your mind.
What if you haven’t saved enough for retirement? Or worse, what if you haven’t saved anything at all? Relax and take a deep breath. All hope isn’t lost. There are seven small changes you can make today that will help you save more money and may even help you retire sooner.
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During a recent conference, I started chatting with the woman next to me. We got on the topic of money and financial planning, and she mentioned that her husband handles their finances and investments and she feels like she is not in the loop. She is a perfectly capable woman having run her own business for many years. It’s unfortunate that a good number of women, even professionals, relinquish control of the family finances to their husbands. In fact, she said that if her husband passed away tomorrow, she wouldn’t know what to do with their money or even where all the accounts are located!
That was a huge eye opener for me. How many other women are in her shoes?
Turns out there are a lot. A recent study found that women are no more confident about money than they were ten years ago. And only 20 percent of women feel prepared to make financial decisions.
When it comes to your finances, you can’t afford to take a backseat. Here are five reasons why you should take control or least be an equal partner in the management of your money:
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