How Women Can Protect Their Income In Retirement

This post is sponsored by Prudential. All thoughts are 100% my own.

Have you started to think about retirement planning? Because of the unique challenges that we face as women, it’s never too early to start. On average, women live 5-6 years longer than men1. Plus, women are more likely to take time off from the workforce2 — generally to care for children or elders — and that can lead to lower lifetime savings. This is why it’s important for women to start planning as early as possible to avoid being financially unprepared for retirement.

IMG_0380

Earlier this month, I attended the Protect Your Retirement Day in New York City with Prudential and the Alliance for Lifetime Income. They had a cool virtual reality experience featuring a few risky scenarios.

image (1)

The goal of the virtual reality experience was to highlight how risky it is for Americans to go into retirement without a source of protected income that they count on as long as they live. I learned that one way to do this is through annuities.

What are annuities? Annuities can be complex, but in general, annuities are long-term investments that you make with an insurance company that is designed specifically for retirement purposes. Annuities are a great part of retirement income planning because they can help provide a guaranteed “paycheck” for life.  Typically, annuities are established to pay in the future as part of retirement, however, some will begin paying immediately. Annuities that begin paying you immediately are called an immediate annuity; deferred annuities are those that start paying at a set date in the future. Many Financial Professionals consider annuities an excellent retirement investment because they can be tailored to fit the needs of the client.

You may also like:  No Time to Eat? Try This

For women seeking the advice of a professional to help them with retirement income planning, reaching out to a Prudential financial professional is the best choice you can make. Prudential Financial Professionals are trained on the financial challenges that women face and they know how to help make your retirement income strategy meet your needs.

Click here to set up a complimentary meeting with a Prudential financial professional today: smarturl.it/pruform.

You can also learn more at smarturl.it/PruAnnuities

1Prudential Retirement analysis; National Center for Health Statistics, Health, United States, 2015: With Special Feature on Racial and Ethnic Health Disparities. Hyattsville, MD. 2016;

2Prudential Retirement analysis; National Center for Health Statistics, Health, United States, 2015: With Special Feature on Racial and Ethnic Health Disparities. Hyattsville, MD. 2016;

#ad

 

How Women Can Protect Their Income In Retirement

__________________________________________________________________________________________________________ Disclosure of Material Connection: Some of the links in the post above may be “affiliate links.” This means if you click on the link and purchase the item, I will receive an affiliate commission. I am disclosing this in accordance with the Federal Trade Commission’s 16 CFR, Part 255: “Guides Concerning the Use of Endorsements and Testimonials in Advertising.”

About the author

Diane

Diane is a New Jersey-based writer and blogger. She is a wife and the mom of a 9-year-old little boy. Through her blog, she wants to inspire moms to find Zen in their lives while offering practical tips and other valuable information to help families deal with everyday issues. Contact her at dianenassy@gmail.com

How Women Can Protect Their Income In Retirement

by Diane time to read: 2 min