Retirement Ready: A Woman's Guide to Financial Freedom

Retirement Ready: A Woman's Guide to Financial Freedom

March 25, 2024

The Social Security Administration (SSA) estimates that today's average 67-year-old woman will live to age 88. Given these projections, it appears that a retirement of 20 years or longer might be in your future. Let’s review a few strategies to consider as you are preparing for retirement.

Start with Good Questions

Some examples may be: How can you draw retirement income from what you've saved? How might you create other income streams to complement Social Security? And what are some ways you can protect your retirement savings and other financial assets?

Invest Strategically

If you are in your fifties, you have less time to make back any big investment losses than you once did. So, protecting what you have may be a priority. At the same time, the possibility of a retirement lasting up to 30 or 40 years will require a good understanding of your risk tolerance and overall goals.

Claim Social Security Benefits Carefully

If your career and health permit, delaying Social Security can be a wise move. If you wait until full retirement age to claim your benefits, you could receive larger Social Security payments as a result. For every year you wait to claim Social Security past your full retirement age up until age 70, your monthly payments get about 8% larger.

Retire With a Strategy

As you face retirement, a financial professional who understands your unique goals can help you design an approach that can serve you well for years to come.

Looking at taking action forwards your financial freedom? Book a complimentary no-obligation call today!

Ariel Andrews, Investment Advisor Representative and Certified Financial Coach at Meyers Financial Services is committed to guiding clients on their financial journey. With expertise in financial coaching and investment advisory, Ariel strives to help individuals achieve their financial goals and make informed decisions for a secure future.

SSA.gov, 2023
The content is developed from sources believed to be providing accurate information. The information in this material is not intended as tax or legal advice. It may not be used for the purpose of avoiding any federal tax penalties. Please consult legal or tax professionals for specific information regarding your individual situation. This material was developed and produced by FMG Suite to provide information on a topic that may be of interest. FMG, LLC, is not affiliated with the named broker-dealer, state- or SEC-registered investment advisory firm. The opinions expressed and material provided are for general information, and should not be considered a solicitation for the purchase or sale of any security. Copyright FMG Suite.