How each woman ultimately plans on spending her retirement is unique, but the tools to help attain retirement readiness are common to all, including:
- Develop a retirement strategy and write it down.
- Calculate your retirement savings needs – and save at a level to achieve those needs.
- Consider retirement benefits as part of your total compensation. If your employer doesn't offer you a plan, ask for one.
- If your employer offers a plan, participate and defer as much as you can.
- Get educated about retirement investing. Seek professional assistance if needed.
- Have a backup plan in the event you are unable to work before your planned retirement.
- Talk about retirement with family and close friends. An open dialogue with trusted love ones about expectations of either needing to provide or receive financial support should be part of every woman's retirement strategy.