Enjoy a Comfortable Retirement with These Steps
By Jay Pluimer, AIF® CIMA®
Monday, 20 March 2023
Retirement planning is an essential aspect of your financial journey. While it can be a daunting task for anyone, it can be especially challenging for single women. Women tend to live longer than men and may face unique financial challenges such as the gender pay gap and career interruptions due to caregiving responsibilities. However, with careful planning, single women can take control of their financial future and achieve a comfortable retirement. Below are six retirement planning tips for single women.
Steps to Help You Remain Comfortable and Independent in Retirement
By Kathy Longo, CFP®, CAP®, CDFA
Monday, 23 January 2023
After diligently saving and managing your money through your working years, it can be tempting to take your foot off the gas and let your finances take a backseat once you retire. After all, you’ve finally reached retirement – what’s left to plan for? However, for women, who statistically have longer retirements, careful financial planning is crucial if you want to enjoy your retirement in its entirety. This is especially the case for women who are hoping to age in place.
The tips below are designed to help you make the most of your golden years when you want to remain in your home and live independently.
How to Navigate Financial Dynamics When Merging Two Families into One
By Kathy Longo, CFP®, CAP®, CDFA
Wednesday, 12 January 2022
Preparing financially for marriage can always feel a bit challenging, and that can be an even bigger challenge for blended families, meaning families in which one or both spouses have been married before.
Today, about 40% of new marriages represent a second marriage for at least one spouse, meaning more people than ever before are facing the unique financial dynamics involved with blending two families into one. The money management tips for blended families below can help you navigate the hurdles you may face in your own blended family.
Finding Ways to Develop a Successful Retirement Plan Despite the Odds
By Kathy Longo, CFP®, CAP®, CDFA
Monday, 13 September 2021
When it comes to retirement savings, women are at a disadvantage compared to their male counterparts. From the impact of the gender wage gap compounding over a lifetime, to caregiving responsibilities, divorce implications, and more, women often make and save less money than men. Yet, the data shows that they outlive men and are much more likely to end up widowed. When all that combines, the reality for many women is that their typically smaller savings for retirement must cover a longer timeframe.
This new chapter of life can feel uncomfortable if you haven’t taken the time to emotionally prepare.
By Kathy Longo, CFP®, CAP®, CDFA
Monday, 26 April 2021
There is a significant connection between retirement and emotions, and many retirees are unprepared for it. This is why I often work with clients who struggle with the discomfort of being newly retired. This struggle occurs for those who haven’t given enough thought to what their life might look like when they leave their career. The challenges might be associated with identity, relationships, finding new ways to fill time, or maintaining frequent social interaction.
It’s also common for “money emotions” to impact new retirees. There’s the excitement of closing one of life’s chapters and starting another, and of spending more time doing things you enjoy. However, there is also sadness in closing a chapter of your life, especially if you enjoyed your career. There’s the fear of “turning off” your paychecks, and of unexpected illness or expenses that could cause you to run out of money. There are also feelings of great responsibility for filling an unknown amount of time with a finite amount of resources, as you hope you’ve planned well enough for the retirement you want to have.
Below, we’ll discuss how asking yourself tough questions before you retire is the best way to prepare for the emotional challenges many new retirees face.
