SKIP TO SITE NAVIGATION | SWITCH TO GRAPHICAL VERSION
If you're a woman, chances are you face a tug-of-war of sorts when planning for retirement. You've heard the statistics: Women earn less, work fewer years, live longer, and need to save more than men. These frightening statistics show that we need to be more proactive in planning for our futures:
Fortunately, if you are working, you have two strong allies—your employer-sponsored retirement plan and time. If you are eligible for your company's plan and have not enrolled, start contributing now. If you already contribute, consider increasing your contributions by one or two percent every year until you reach the maximum allowed by your employer's plan. By increasing the amount you invest in small increments, you can potentially accumulate more without substantially affecting your take-home pay. And, if your employer matches a portion of your contribution, you get an instant return.
Over time, even small amounts can potentially add up through compound earnings (the returns on both your principal and future earnings). Your success, however, will depend on your investment strategy. Consider what portion of your retirement plan should be invested in stocks. Although stocks are among the riskiest of investments, time helps control this risk. The longer you are able to hold on to stocks, the lower your risk of loss and the stronger your potential for gains.
2 Investors Business Daily, 20 February 1998.
3 Investors Business Daily, 20 February 1998.
Apply Now
All Application Forms
Contact Us
Financial Issues for Women
800-WACHOVIA
(800) 922-4684
Telephone Banking Help
24 hours a day
7 days a week
Email Online Services
Mailing Address
Related Products and Services
•Investing
Related Links
•Retirement Planning
•Retirement Goal Worksheet
Personal Finance