Buzz: What Today’s Woman Needs to Know and Do

March 30, 2011

Even though all Americans are living longer, women still tend to outlive their husbands, or not marry at all, which means they need to be active in their retirement planning before finances in their golden years become an issue.

To help with that, the MetLife Mature Market Institute has partnered with WISER (Women’s Institute for a Secure Retirement) to offer a comprehensive free publication called What Today’s Woman Needs to Know and Do: the New Retirement Journey. It’s available for download from the Mature Market Institute.

The publication speaks to the different challenges that women face as they mature and offers assistance with financial planning issues, with such tools as a Retirement Savings and Planning Checklist for every decade of a woman’s life, with guidelines for women from age 20 through their 70s. There’s also a glossary to define common financial terms, as well as other resources.

According to data from a MetLife Mature Market Institute study, financial planning is a major issue for the modern woman, especially since women still earn less than men, with 62% of career women expressing concern that they may never have enough money to retire.

Explains Sandra Timmermann, Ed.D., the director of the MetLife Mature Market Institute, “While women today have more economic opportunity than ever before, they also have a great deal more financial responsibility. Compared to previous generations of women who likely had a pension [theirs or their husband’s) and a deed to their mortgage-free home, many of today’s women are less prepared. They may now have a 401(k), 403(b) and/or IRA savings, a Social Security benefit and Medicare benefits, but they may not have pensions and private health care coverage. Many are likely to have a mortgage or other debt. New approaches are, therefore, required.”

No matter how old you are, this publication is worth checking out.