Moving on After Divorce - Retirement Planning For Women Part Two

Why is retirement different for women who are moving on after divorce?
There are at least seven reasons for the difference and they are all BEA 0B0-106 exam financial.
1. We traditionally earn less than men.
2. With 90 becoming the new 70 in terms of healthy aging it has never been more necessary for us to understand what modern retirement costs. Retirement in the UK is conservatively estimated to cost someone living alone £326,000. (Cost of Retirement 2008 Centre of Economics and Business Research)
3. Our pensions are usually worth less than those received by men.
4. Divorce is much more common and despite contradictory media coverage we are generally significantly worse off after divorce than our married peers.
5. We need the same monthly income as a man.
6. Utility costs are nearly the same for a single person as a couple.
7. We have begun a two-year countdown to state pension changes, which sees the state pension age for women start to gradually rise from 60 to 65 from 6th April 2010.
So we need to take responsibility for our finances and become financially literate.
• If you work for a company that offers a pension plan, invest as much as you can afford. If you don't have one, save as much as you can each month and don't touch it.
• Work out what your income and outgoings are now and will be when you retire and keep informed if the cost of living changes.
There is lots of information on the Internet to help you get clued up about savings and investments and you can always get yourself an Independent Financial Advisor or Retirement Coach.
The BEA 0B0-111 exam more you educate yourself, the better prepared you will be for your retirement transition. And remember, retirement isn't a one time only event and you can always go back to work on your own terms or even start your own business.
Moving on After Divorce - Retirement Planning For Women Part Two
Why is retirement different for women who are moving on after divorce?
There are at least seven reasons for the difference and they are all financial.
1. We traditionally earn less than men.
2. With 90 becoming the new 70 in terms of healthy aging it has never been more necessary for us to understand what modern retirement costs. Retirement in the UK is conservatively estimated to cost someone living alone £326,000. (Cost of Retirement 2008 Centre of Economics and Business Research)
3. Our pensions are usually worth less than those received by men.
4. Divorce is much more common and despite contradictory media coverage we are generally significantly worse off after divorce than our married peers.
5. We need the same monthly income as a man.
6. Utility costs are nearly the same for a single person as a couple.
7. We have begun a two-year countdown to state pension changes, which sees the state pension age for women start to gradually rise from 60 to 65 from 6th April 2010.
So we need to take responsibility for our finances and become financially literate.
• If you work for a company that offers a pension plan, invest as much as you can afford. If you don't have one, save as much as you can each month and don't touch it.
• Work out what your income and outgoings are now and will be when you retire and keep informed if the cost of living changes.
There is lots of information on the Internet to help you get clued up about savings and investments and you can always get yourself an Independent Financial Advisor or Retirement Coach.
The more you educate CISA yourself, the better prepared you will be for your retirement transition. And remember, retirement isn't a one time only event and you can always go back to work on your own terms or even start your own business.