Many women over 50 feel insecure about their retirement picture. Is there enough money to live comfortably? Is it time for retirement -- or just a change of careers?
A woman may indeed have a riskier financial picture as she ages. "Women typically have worked fewer years than men, and for lower wages," says Jean Setzfand, director of financial security at the AARP. "Yet they tend to outlive their spouses -- and will likely have greater health care costs as they age. That means their income will drop at an even greater rate as they get older."
Stress incontinence has an annoying way of showing up at the most inopportune times.
You're jogging along, feeling great -- and then you realize your running shorts are damp with urine. Later that night, during a romantic rendezvous with your partner, a trickle of urine appears again, definitely spoiling the moment.
Lest you think stress incontinence is a problem only of middle-aged or elderly women, think again. Surprisingly, young women actually have more stress incontinence during sex than...
And some women over 50 may find themselves dissatisfied with jobs or careers they've devoted decades to developing, says Cynthia Barnett, EdD, a retirement lifestyle specialist based in Norwalk, CT. "At mid-life, you begin thinking 'what's my purpose in life.' This starts a whole cycle of self-reflection, a search for work you love to do," she tells WebMD.
Women Over 50: Boosting Your Financial and Professional Power
Are you ready to give your career and finances a boost? This to-do list will get you started:
___Learn about finances. Educate yourself about retirement planning, your options, and your financial picture. Stay up-to-date on Social Security and Medicare. The more financially literate you become, the better decisions you'll make. And for women over 50, there's still time to catch up on retirement savings. Not sure where to start? Talk to a financial planner (to get unbiased advice, pay a flat fee for a visit), take a financial planning night course, or ask friends how they're handling the road to retirement.
___Complete a self-assessment on a retirement calculator. All the big investment management firms have financial planning calculators on their web sites, as does the AARP. Women over 50 should factor in all their sources of retirement income, including social security, employer-based retirement income (pension and 401k), and personal savings (IRA accounts).
___Start saving now. The percentage of income you should sock away depends on your circumstances, but aim for 10% if you can, and more is better, say the experts at CNNMoney.com. If you do it via payroll deduction, which is done before taxes, you won't even miss it.