Priorities often shift for women in their 30s and 40s. While savings tend to be eaten away quickly during these years, women should avoid the temptation to dip into retirement savings. If they fail to save adequately for retirement, they may have to depend on their children to care for them some day. By their 50s and 60s, women who have planned carefully should be in a better position to live comfortably from their retirement income. A woman should be prepared for financial independence at any point in life.
Proper planning can help a woman plan for divorce or widowhood.
Life cycle planning can help a woman plan for the financial health of her family, even if she remains married. N.J. He is a registered representative of Allmerica Investments, Inc., a registered broker-dealer.