TIPS FOR WOMEN FACING RETIREMENT ALONE
It happens all too often.
A woman suddenly finds herself staring into the uncertainty of her financial future due to divorce or the death of her spouse. She may be saving everything she can, but there’s no way for her to understand or figure out if she will have enough funds to “get by” when she retires.
“It would be great to be able to say, ‘There’s an app for that’, but unfortunately, there isn’t,” Linda Gardner, an IAR and a member of the Women’s Estate Planning Council, said. “But there are some things women can and should do when they find themselves in that situation.”
Gardner is an author, speaker and trainer and has been helping clients with financial planning, estate planning, business succession and long-term care planning for more than 30 years. She is a member of the National Ethics Association, a member of Ed Slott’s Master Elite IRA Advisor Group and holds a Series 65 securities license as well as a Colorado Health and Life insurance license.
Here are some tips Gardner feels will help any women who finds herself suddenly facing retirement and not knowing how to make her finances last.
- Talk to a professional financial adviser – a person who handles these types of situations on a regular basis. They have the experience and expertise to make the proper recommendations to their clients to help ensure long-term financial stability.
- Attend a financial workshop where you can learn some basic terminology, some DOs and DON’Ts of retirement planning, financial risks women face and how to overcome them and how to manage the “volatility” (a term you need to know) of the different investment markets.
- Get up-to-date information about your Social Security account and learn as much about Social Security as you can.
“No woman wants to wake up one day and wonder if she will have the funds to sustain her for the rest of her life,” Gardner said. “Unless you were the person who handled the finances and investments for you and your spouse, getting help from a professional is the best thing you can do.”
Gardner teaches “Women, Wealth and Retirement” through the Colorado Free University. The course is designed to educate women about retirement and financial planning. The three-hour class will be held Saturday, Aug. 16 from 9 a.m. until noon near I-25 and County Line Road.