Women Fitness

Women Fitness is an exhaustive resource on exercise for women, workouts for women, strength training, Zumba, HIIT, weight loss, workout, fitness tips, yoga, pregnancy.

  • Member’s Login
  • 150 Countries
  • Privacy Policy
  • Disclaimer
  • Site Map
  • Health & Fitness
  • Celebrities
  • News
  • Digital Magazine
  • Shopping
  • Print Magazine
    • Follow
    • Subscribe

Good health, Others

5 Things All Women Should Know About Retirement Finances

December 6, 2022 By Namita Nayyar (WF Team)

Image Source: Pixabay

Research has found that more men than women have a solid plan for retirement and save money in investments for when they retire. 

When it comes to financial literacy, the reality is that women are not well informed in this area compared to other areas like fitness or health. They are three times as likely as men to say they can’t afford to set aside money for retirement. 

Not many women are confident that they’ll reach their career goals or climb very high up on the career ladder, thus, do not give retirement savings much thought.

A recent survey by Bank of America on women and financial wellness found that when it comes to saving for retirement, many women have it on their minds but not many take actionable steps in that direction. 

No one wants to be a burden. However, the only way to ensure you enjoy a comfortable life when you stop working is by having money saved up for this purpose— retirement. 

Here are 5 things all women should know about retirement finances: 

There is no retirement finance without retirement planning 

Retirement finances always start from retirement planning. Here, you set your retirement goals, decide how much you need to save for retirement, track how long you have until you retire, and settle on the types of retirement accounts that can help you meet your goals. 

Investing in the Right Way Can Help Grow Your Retirement Savings

Investing improves your chances of a comfortable retirement. It is a great way to build wealth and with time, your money or financial assets increase in value. There are several investment opportunities and reliable retirement investment software to choose from like SoFi. 

SoFi is an all-in-one investment app that charges zero commission fees on every trade at every time. You can open a retirement account on SoFi and start your investment journey.

Avoid withdrawing your retirement savings

Saving money secures your financial future and is one of your tickets to a comfortable retirement. If you withdraw your savings early, you’ll lose the principal, interest, and tax benefits and will be charged a withdrawal fee. 

Most importantly, this would affect your retirement plan. Try as hard as you can to keep yourself from taking out your retirement savings.

Hire a Financial Advisor 

There are retirement advisors, and hiring one with ample knowledge of retirement finances can help. They help you map out a solid retirement plan and manage your finances including your savings and investments.

Utilize Retirement Savings 

Social Security benefits

Paying social security taxes makes you eligible for retirement benefits. You earn credits that qualify you to receive retirement benefits in the future. Also, you can calculate your estimate of retirement benefits to help you plan for your retirement. 

Learn more about your social security benefits. 

401(k) Savings

If you’re employed at a company, find out about the retirement plan for employees. If your employer offers a 401(k) retirement plan, contribute as much as you can to the savings account. Taxes charged to such accounts are lower and as the compound interest builds up over time, your savings increases. 

Pension

401(k) savings are rapidly replacing traditional pension plans in most companies. However, some companies still deliver this retirement plan. If your employer offers a pension plan for employees, find out if you are eligible. Also, learn about what the benefits are worth. 

Individual Retirement Account (IRA)

You can open an individual retirement account and start saving right away. IRAs deliver a comfortable way to save money for retirement. You can also automate deductions from your savings account directly into the IRA.



Disclaimer
The Content is not intended to be a substitute for professional medical advice, diagnosis, or treatment. Always seek the advice of your physician or other qualified health provider with any questions you may have regarding a medical condition.

Download Women Fitness App

Namita Nayyar
President
Women Fitness
Launches First Book

A rare insight into the life of 15 Track and Field Women World and Olympic Champions


Paperback Edition



Kindle Edition

Digital Magazine Sign-Up

NewsLetter Sign-Up

 

Digital Magazine Available On

Available On Readly App

Available On Magzter

Advertise With Us






Categories

  • Beauty & Fashion
  • Building Strength
  • Calorie Catch
  • Celebrities
  • Diet & Optimum Nutrition
  • Disease Management
  • Exercise & fitness
  • Fertility & Pregnancy
  • Good health
  • Motivation Point
  • Weight Loss
  • Sexual Health
  • Target Abs
  • Women at 40
  • Yoga & Meditation
  • Others





Women Fitness App
Download Women Fitness App


  • facebook
  • Twitter
  • Linkedin
  • Pinterest
  • Instagram

For More Fitness Tips & Secrets, Join Our Mailing List!

JOIN WF

  • Newsletter Signup
  • Why WF
  • Advertise With Us
  • Digital Magazine
  • Print Magazine

Absolutely Free

  • WF Categories
  • Fitness Tools
  • Low Calorie Recipes
  • Calorie Catch
  • WF Entertainment

All About Us

  • About Namita
  • Team
  • Achievements
  • Testimonials
  • Contact Us

© by Womenfitness.net 1999–2023. All rights reserved.

All Categories

  • What’s New
  • Weight Loss
    • Obesity
    • Low Calorie Recipes
    • Real Weight Loss Stories
    • Fitness Tools
    • Daily Tip
    • Fitness Analysis
    • Motivation of the Day
  • Exercise
    • Body building
    • Fitness for Models
    • Target Abs
    • Women At 40
    • Motivation Point
  • Healthy Eating
    • Calorie Catch
    • Disease Management
    • Good health
    • Herbs
  • Beauty & Fashion
    • Eye Care
    • Hair Care
    • Hand & Foot Care
    • Make Up
    • Skin Care
    • Beauty Tip
  • Celebrities
    • Actresses
    • Celebrities & Fitness Trainers
    • Sportswomen
    • Celebrity List
  • Pregnancy
    • Fertility & Conception
    • Health During Pregnancy
    • Getting Back to Normal
    • Problems in Pregnancy
    • Due Date calculator
    • Sexual Health
  • Yoga
    • Beauty & Yoga
    • Yoga during Pregnancy
    • Meditation Point
    • The Yogic Diet
    • Weight loss Yoga
    • Yog – Asanas
    • Yoga & Disease Management
    • Yoga in Action
  • Contact
    • About Namita
    • Our Team
    • Advertize with Us
    • FAQ
    • Message Board
    • Contact Us
  • Shopping
    • Book & Mag. Store
    • Fitness Apparels
    • Fitness Music
    • Fitness Dvd’s
    • Maternity Store
    • Sports & Outdoors
    • Health Care Store
    • Natural Health Foods
    • Herbs & Spices
    • Beauty Shop
    • Jewelry Store
    • Flowers
    • Health Care Equip.
    • Diet & Nutrition
    • Health Mobile Apps
    • Sex Lubes Store
  • More
    • Testimonials
    • Awards
    • WF Links
    • Privacy Policy
    • Site Map
    • Disclaimer
    • News
    • Member’s Area
    • Reviews

Follow

  • facebook
  • Twitter
  • Linkedin
  • Pinterest
  • Instagram
Go to mobile version