Don't outlive your money, honey!
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| Photo:Alamy |
It's not a surprise that most women outlive men. That is why we need to plan for it financially, especially if we are healthy now. Time is our friend when planning for the days when we may not work due to illness, injury, age or a changes in our economy.
When I think of retirement, I think of the fun, freedom & travel. I rarely about exactly how to foot the bill.
With the recent changes to 401(K)-like programs (read most big companies are scrapping these programs) & our government cutting funding and now mandating health care, I DO NOT think future generations can plan on receiving much in the way of Social Security. Indeed, in my case, as a stay-at-home mom, not at all. The MSN Money article
by Melody Judge, Marketwatch
Gave me a sobering perspective & brought up a list of concerns.
1. I'm probably going to live to 100 or longer
2. At least 5 of those years should be planned with the thought living alone/ without my husband
3. Yikes, I don't have much savings
4. I have to pay for my son's college education starting in 8 years
5. We have debts to pay
6. Can we save enough in the next 20-35 years to last us until we are at least 90 yrs-old?
Looks like I rather we--as in my husband & I and maybe this includes you--have our work cut out for ourselves!
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