Women need to save more, plan earlier for retirement
Single women face unique challenges in saving for retirement. Women need to save more than men because they often get paid less and live longer, as stated in a recent Baltimore Sun article.
As divorce rates have risen, more women are single as they enter retirement. This means they also have less income coming in than a two-person household, but that does not mean their expenses are cut in half.
Kathy Armstrong, a financial planner with Heritage Financial Consultants and a registered representative of Lincoln Financial Advisors, specializes in helping women – especially those who have faced major life changes – with comprehensive financial planning.
In The Baltimore Sun, Kathy shares that for many women, feeling unprepared for retirement can be more of an emotional factor, and that they may not be as far behind in saving as they think. Two of Kathy’s female clients discuss how she helped each of them devise financial plans to address major life changes and continue to live comfortably.
To learn how women can better prepare for retirement and to read Kathy’s interview in The Baltimore Sun, click here.