Do women plan early with retirement strategies?
By Charles Hopkins
Published 08/8/2006 | Social Issues
Call it fallacy! Or the basic irony of nature! Women live longer life than men but take least care for their livelihood. Throughout their lifetime they devote on the welfare of others, nurture and nourish their families and pay lowest attention on their profile.
Is this true for women walking out of the daily chores of life in the rush of professionalism? Do professional women have a changed outlook? Yes changes are there but thinking of retirement strategies at the onset of their careers is a far fetched thing. Most women dont even know what they are supposed to get from their employers. Their ignorance paves the path for their exploitations.
Women are best known for running household budget but when it comes to the professional front they are wiped out. Why? They live more, dont get well paid jobs and above all they are not conscious about future investments.
But if they plan out in a strategic manner, they can easily take the lead in this sphere too. Just some additional spice to their intellect can turn things in the right direction. Then try out! What makes you lag behind now?
- Before you log on for investments, allow yourself to leave no stone un-turn in the assessment of the source of your money.
- Check out where you invest most in your household. Asses the major areas of investments and keep a record.
- Once you are aware of your needs it becomes easier to outsource money for specific use.
- The calculation must be based on the income-expenditure ratio. If the ratio is more than one, that means you spend less than what you earn. Thats good. But if its more, you have to trim the length of your expenses.
- Play safe with your expenses and maintain some secured money in an emergency account.
- Start planning from an early age. It becomes easier to save when you are spinster. Though those are the obvious years of rejoicing your dreams still a little savings then pay you the most in the years to come.
- After entering into the married life, rapid changes take place in the social status and you are leaped with endless formalities. Savings during this time is viable but tough to estimate.
- Beginning the saving procedures at an early stage of your life provide you with better outputs at the end make you more confidence in shaping your lifestyle.
- You dont have to risk your dollars in easy profit making policies and become the victims of their pitfalls.
- You can always go for authentic schemes such as 401(k) Plans, Social Security and Retirement Health Savings Plans.
- Try out for more long term benefits that equate intake of lesser amount in regular interval of time and pay back greater dividends.
- Multiply your investment in different schemes as this will carry less risk and large returns.
- Keep a track of your investments after a regular interval of time say twice a year and modify your plans accordingly.
- Keep a close look on the market and make the possible alterations to stimulate more growth out of your investments.
- Dont jump into fast decisions and always take help from professional planners to get right suggestions in the exact hours.
Fine! Cant you do this bit? Just give a 180 degree turn to the associated myth with your status that you cant plan for retirement strategies early. Change your outlook now!