Episode 24: "Retirement Planning for Women"

When it comes to financial planning, retirement planning for women is especially important. While women are more educated and have more financial resources than ever before, they also have a unique set of challenges that make saving for retirement more difficult. In today’s show, Tom and Kirstin discuss some of these unique challenges and the different steps women can take to overcome them. They’ll also dive into the question, “Can I retire comfortably with $500,000 in retirement savings” and share 7 tips that will help make that possible.
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TIMESTAMPS 0:00 Retirement Planning for Women 05:58 Why women retire earlier than expected. 07:56 Steps women can take as they near retirement. 15:40 The importance of having a plan. 18:40 Women’s financial success is growing. 22:10 Can you retire comfortably? 23:13 7 Tips to retire comfortably with $500,000 28:33 #1 No Winging it. 29:52 #2 Develop a formal strategy. 32:20 #3 Consider delaying Social Security. 33:35 #4 Learn about Medicare. 35:22 #5 Pay off debt. 35:40: #6 & #7 Keep working, even part-time and be opportunistic. 38:12 Listener Question: I’m 65, no savings, just social security, what can I do? 43:19 Listener Question: We have 2.1 million in the stock market, will it last? 47:05 Listener Question: I have a will and power of attorney. Do I need a trust?
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Learn the key components you need to include in your retirement plan, Check this video out: https://youtu.be/QkJzvbZ_gDs
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