Women Have Unique Pension Planning Wants ? Searchipnews.com ...

Translating retirement dreams in to reality could be challenging-especially for women, who often must overcome unique, gender-specific challenges to achieve economic security.These challenges contain lower average earnings, support and custody, elder care and longer life expectancies than men. This series of articles examines these special gender-based problems to greatly help women become better informed about retirement and economic planning.As more women have joined the workforce and their pay moves toward equality with men, women now have more chances to save and invest for retirement. But merely growing women?s economic strength will not fundamentally create a higher quality of individual retirement planning, greater participation in retirement plans, a rate of savings or smarter investing.The details tell the story:oWomen live longer-Statistically, women outlive men by typically about five years. This suggests they will have to save more because they will have more years of retirement to fund.oWomen save less-The women?s typical contribution rate is 6% compared to. 2 months for men, according to the Ninth Annual Transamerica Small Business Retirement Survey (September 2008), even though the savings rate for both men and women falls short of the minimum suggested 10 percent. Only 10% of the women surveyed reported home retirement savings totaling over $100,000, compared to 29% of men.oWomen start saving later-Women hang retirement saving later in life than men, so they have less years to accumulate a retirement home egg.oWomen have less to invest-Generally, women have less to commit since, on average, they earn less than men.The poverty rate for all elderly women is 13% in line with the U.S. Census Bureau in 2008. However, the University of Michigan Retirement Research Center (Might 2003) found that for widows, never-married and separated women, the rate jumps to more than 188. Also many count on Social Security as their main supply of income.Next, you?ll learn more about the pay differential between men and women-one of the main economic difficulties facing women as they policy for the future.Women save less because they earn lessDespite major results in the workplace, many women remain at a disadvantage in regards to earning power. No real matter what measure can be used, women?s profits generally speaking remain below those obtained 1998 men.According to the U.S. Census Bureau, the median earnings of full-time male workers was $43,460 in 2007. 2000 the same measure, the median income for women was $33,437. But the difference between women?s and men?s earnings closed somewhat. In 2007, the female-to-male earnings ratio was 0.78-higher compared to the past all-time-high of 0.76, first recorded in 2001.Various factors contribute to these earnings differences:oWomen?s careers are interrupted more frequently for labor, daycare or aged parent care. oEven girls who gain entry in to high-paying jobs may be at the mercy of these demands punctually and attention. oSmaller companies with smaller payrolls on average use more women than men. oFewer women than men are union members. oMore women than men choose not to work beyond your home.For these reasons, it can be especially significant for women to become informed about retirement and financial planning programs-and to participate in employer-sponsored retirement plans.Next, we shall discuss the competing needs that several working women face-and often experience alone: the care of children and elderly parents.The issues of providing child and parent careWomen?s traditional function as caregivers for both children and elderly family members often demand particular financial issues and make it difficult to set aside cash for the future.This is especially true for women who?re custodial parents, dependent on child support payments that might or mightn?t be forthcoming. In line with the 2005 edition of Son or daughter Support for Custodial Mothers and Fathers, an U.S. Census Bureau report, around 13.6 million parents had custody of kids under 21 years. And five of each six custodial parents were women.Custodial parents are far more likely than men to work in your free time and have the greatest importance of son or daughter support. Nevertheless, the Census Bureau study discovered that on the list of over 11 million custodial mothers, only 2.9 million were receiving the entire amount of their court-ordered child support obligations. Obviously, the unsupplemented burden of daughter or son and home service falls more frequently to women with simple incomes-a undeniable fact that might have a devastating effect on retirement-planning efforts.Caring for the elderlyNearly one in four of the nation?s households is involved in caregiving to members of the family or friends aged 50 or older. And about 75% of these caregivers are women. (Source: 101 Facts on the Status of Workingwomen, published in 2005 1998 the Business and Professional Women?s Foundation). The BPWF document also said that 27% of caregivers are children of these receiving the care, and that female caregivers spend 50% more time providing care than male caregivers.Further, according to the BPWF, employed caregivers are more likely to skip work, lose employment or job opportunity or experience other negative economic effects.And then there is the immediate economic impact. Elderly people living on a fixed income can have more difficulty paying electricity bills, health-related deductibles, nursing home bills or home health charges. When the elderly parent runs a little short, the sitter could be needed to constitute the weakness. Again, this can reduce steadily the volume available to save for retirement.What girls can do to organize for the futureFinancial planning starts with getting educated about key economic issues. That is not as hard as it might sound, because it just takes time to read up on finances in tons of personal financial management books and publications on the market.These publications describe the good qualities and cons of investments such as mutual funds, variable annuities, certificates of deposit (CDs), money market funds and other investments savings programs such as office retirement plans and Individual Retirement Accounts (IRAs) and the style of risk management through life and long-term treatment insurance.Next, obtain an understanding of cash management. This calls for monitoring your checkbook, determining where your cash goes every month, and finding methods to minimize these outflows if the ways exceed your revenue. Budgeting could be the most basic, most efficient way to straighten out equilibrium income and outgo, identify charges that need to be reduced and supply a framework for controlling your finances.Now could be the time to start utilising the five-step retirement-planning process:oSet objectives oAnalyze current financial position oDevelop methods oChoose particular investment options oEvaluate and follow up on your planThis method may help you decide how much money you?ll need at retirement and make decisions about how to start gathering that money. For more details about financial and retirement planning for women, contact financial counselor, Andrew Brake @ 336-833-3066 or andrew.brake@valic.com.

Go to our site for more information about Retirement Planning Fort Wayne

Source: http://www.searchipnews.com/2012/08/04/women-have-unique-pension-planning-wants/

good friday f/a 18 f 18 crash virginia tenebrae the lake house petrino arkansas roy williams