How do women prepare for retired life?

By Charles Hopkins Published 08/8/2006 | Social Issues

Hey ladies! Over the years you have looked after your family and earned to shape the best for them. A loyal wife and a generous mother, you have been epitomizing the spirit of selflessness. But have you thought something for your own? Your kids have grown now and all are engaged in their chores. Your husband has started with a new business from his savings after retirement. And you on the verge of retirement yet undecided what and which way to go?

Thats not fair. You are always known to be a responsible soul, then why do you lag behind when it is exclusively meant for your concern? Honey! Your hard earned penny cant go in vain. You really need to plan for it in a well grafted way so that at least you can enjoy your retired life in your very own way. Also you can leave back an asset for your next generation.

Most women are not conscious about retirement schemes and plans. They take it for granted with lame excuses. But dont you feel this to be your callousness and an attitude out of your folly? You can manage the whole world. Thats the range of your capacity but cant save for your retired life. Thats ridiculous!

Start planning now and get the best of the inputs in your retirement days. A woman should be much more careful in these measures because you are a creator, feeder and nurturer. Who else can be better conscious than you are? It is only you who can bring about the difference.

The plan should begin in the early days of your career

You can begin with the proposed plans offered to you by your employer. This is the easiest way to enjoy a good amount in return after you retire. The employer-sponsored schemes are mostly not included in the tax policy and are participatory in mechanism. You deposit and save an amount as per the policy and the employer match an amount to your deposit and add to your savings. Isnt that great? So what is the problem in going for this simple thing? And if you can start from an early age, you can relish the most on the big amount of your refunds.

The plan should be chalked according to your needs

Prepare yourself the way you want to live in those days. What are your liabilities and what are your desires? Match them and set up the priority list. Allot the amount to be borne for each of these. And there you are! If the calculative part is ready, plan it accordingly in the schemes and retirement policies you opt for. And draw the best at the end.

Strategically join a safe retirement plan

Now this is very interesting that women know about the 401(k) plan otherwise. You are often in confusion that why should you reduce the amount of your wage at the end of the month? But had you given a justified time to understand the pattern of growth in the retirement plan, you wouldnt have had such doubts. The best thing in the 401(k) is everything is decided before tax and only when you withdraw at the end, you need to pay an amount.

Moreover this is a combination of the employer-employee raised amount. You need not bother to deposit because once you have entered into the scheme the deduction will be automatically made by the authority. No risk and maximum benefit!

Ensure your growth from time to time

This is a must! You should know your strengths and limits. Thats why when you invest find out after a regular span of time whats the status of your savings. Can you afford to join any other scheme? Is your retirement policy giving some additional benefits? How can you avail them? So on.

Believe it! Everyone will salute to your own determination and struggle when you find yourself in the preeminent position even at the end of the day.