On today’s Crash Proof Retirement Show, Phil Cannella and Joann Small celebrated Women’s History Month with some specialized advice for women in or near retirement.
The Transamerica Center for Retirement Studies (TCRS) released their 15th annual Retirement Study at the end of 2014. This past week, they released the study’s findings that were specific to women. Among the more interesting tidbits:
• Only 14 percent of women say they are “very confident” in their ability to fully retire with a comfortable lifestyle.
• More than half of the women surveyed—54 percent—say they plan to retire either after age 65, or not at all. And half of those who are planning to retire say they plan to work at least part-time in retirement.
• Only 36 percent of women say they are receiving qualified advice from a professional in terms of preparing for retirement.
• Lastly, 53 percent of women feel they would benefit from easier-to-understand information.
“Today’s women are better educated and enjoy career opportunities that our grandmothers’ generation could only dream about,” said Catherine Collinson, President of TCRS.
“However, even today, a woman’s path to a financially secure retirement is filled with roadblocks and detours, such as lower pay and time out of the workforce for parenting or caregiving, which can negatively impact her own long-term retirement preparedness.”
The Crash Proof Retirement Show has secured an exclusive interview with Catherine Collinson. Tune in next Saturday at 11am to hear directly from the President of the Transamerica Center for Retirement Studies.
Also on today’s show, Phil and Joann discussed the turbulent week on the markets, plus the latest updates on what’s taking place on Capitol Hill in the wake of president Obama’s call for fiduciary duty on Wall Street!