For those of us in our twenties and thirties now, we are the first generation that statistically speaking will likely spend more years in retirement than we did in the workforce. So it’s time we start preparing for our Golden Years! Manisha walks us through the retirement basics and encourages all of us to take control of the one thing we can control – when we start investing! How about now?
According to TransAmerica Center for Retirement Studies, less than 70% of U.S. women are investing money for retirement, compared to 81% of men. Of those who are investing, the median household retirement savings for women is just $23,000 compared to $76,000 among men. On average, women live longer than men and that means they must provide for more years in retirement than their male counterparts. In this episode, we focus on the basics of the most popular retirement options – 401ks and IRAs.