keyboard_arrow_up

Moms, please don't put your retirement savings goals on the back burner

Moms, please don't put your retirement savings goals on the back burner

On Mother’s Day, we honor mothers for their nurturing care and selfless nature. But if you’re a mother, these qualities could work against your retirement savings goal. Why? Women drop out of the workforce for an average of 12 years to care for young children or aging parents.* This gap in time can result in women saving less money toward retirement. In the end, it's not how many years or how much you save but rather whether you achieve your retirement savings goals. For starters, ask yourself: *When would I like to retire?* If you plan to retire later in life or take up a second career, you'll have more years to save for retirement and possibly some extra income while you're enjoying it. *What will I do once I retire? *Different lifestyles carry different price tags. A woman who wants to stay close to home and babysit the grandkids will likely spend less in retirement than one with a “bucket list” of travel destinations. *How long might my retirement **last?* In general, women live longer than men. By age 85, women outnumber men by approximately 2 to 1.** The longer you spend in retirement, the longer your savings will need to last. Life can be expensive – but don’t put your retirement on the back burner. A financial advisor can help you develop a solid savings strategy tailored to your retirement goals. To begin the conversation or to discover what it's like to work with a Financial Advisor, please call Mick Pryor at 307-856-6116 [image: Inline image 1] ** “Women and the Workforce: Challenges and Opportunities Facing Women as They Age,” Older Women’s League, 2012.* *** U.S. Census Bureau, http://www.infoplease.com/spot/womencensus1.html .* *Edward Jones, its employees and financial advisors cannot provide tax or legal advice. You should consult your attorney or qualified tax advisor regarding your situation.*