Planning for retirement is an important step toward financial independence in the golden years. Unfortunately, many women realize too late that they have not planned adequately for retirement.

Many women spend their earlier years caring for their children, and enter the workforce later in life. As a result, they earn less than men and have fewer resources to invest. Earning less money also means smaller Social Security checks for women. Men typically earn higher salaries than women, giving them more money to invest for retirement.

Another issue women face is that they have a higher life expectancy than men. Living longer means assets may be depleted when a woman needs them most.

There are steps women can take to improve financial status during the retirement years. As long as a woman is in the workforce, there is time to make preparations for retirement. The key is to learn how to plan for this event. A woman who is not familiar with investing would benefit from workshops or classes that teach investing. Investing is a retirement planning strategy that is preferable to putting money in a savings account, since savings accounts currently earn very little interest.

A woman who is still working can also take advantage of employer-sponsored investment options such as 401K plans and similar programs. Additionally, after a woman retires from full-time work, she might consider part-time work. This is a way to allow investments to continue to grow while having extra money necessary to take care of expenses.

Contact Barbara today for a complimentary consultation to see how you can start saving for your future.