Women Face Significant Economic Challenges

Women worldwide are still facing a lot of obstacles that hinder them from attaining a secured future. In the United States alone, women encounter more economic challenges than men in pursuit of financial security, especially when it comes to having a comfortable retirement. So it’s important for women to be familiar with these challenges and to learn how to overcome them. 

Here are some challenges and possible solutions that women should take note of:

1. Challenge - Women will most likely need any form of long term care.
   Solution - Plan for long term care expenses early.

2. Challenge - Women live much longer and will most likely depend heavily on Social Security.
    Solution - Create a sustainable withdrawal strategy.

3. Challenge - Women spend more time out of the workforce and accumulate less money in 401(k) plans.
    Solution - Take full advantage of your IRA and (401)k.

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