Look at saving as making an investment in your future self. It’s self-care. You’re saving for “living,” not “retirement.” To me, that’s a better way to frame it, especially when retirement is a fuzzy concept at best.
Many of us, especially those in our 50s or 60s, are now very worried about our money due to the pandemic.
For your financial health and prosperity in the year ahead, there are a few critical dates to put on your calendar and steps to take for them:
“My biggest concern is that women are still lagging their male counterparts men — even millennial women — in retirement savings as well as their income,” Judith Ward, a senior financial planner at T. Rowe Price.
Talking about money is still a taboo subject. It makes us uncomfortable. Women are great investors, but they still lack the confidence to get started.
60% of Americans feel anxiety when thinking about investing in the stock market and 55% of boomers worry about a market crash.
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“Two-income households typically make more, but save less,” says Cindy Hounsell, president of the Washington D.C.-based Women’s Institute for a Secure Retirement (WISER).
“First and foremost, for us, the life we want to create is the target, while money is the tool that helps us achieve it. For many men, it is the other way around.”
“Once you have been to a place, you have a feel for it,” Cliff says. “As you get older, you appreciate the subtleties a little more. You have done all the tourist stuff but getting to walk in the neighborhoods and feeling like you are living there by going to the grocery stores and markets, is the magic. You’re part of the fabric of the culture and not just a tourist.