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March 6, 2017     West Seattle Herald
Women must act to overcome financial challenges
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March 6, 2017

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Women must act to overcome financial challenges | West Seattle Herald / White Center News Skip to Main Content Area Monday, March 6, 2017 | Broken clouds, 41 °F search Letters Sign in Subscribe Contact Us Front Page News Features Sports Opinion Police Blotter UPDATE: After the loss of her husband, Shi Chen is struggling to make ends meet; GoFundMe campaign tops $11,000 Update 1:00pm March 6 The campaign to support Shi Chen and family ... BB Gun shooting spree alarms motorhome owner; Windows repeatedly shot out By Lindsay Peyton David Kramer says that most of the people who ... West Seattle victorious over Lincoln Abes claiming third place BY GERARDO BOLONG Special to the West Seattle Herald TACOMA - ... Amanda's View: Social dance By Amanda Knox   This week Chris and I learned the shim sham. ... Police Blotter Week of 2-27-17 Security guards stop shoplifters A store located on the 2800 ... Features View from the other side of the notebook Women must act to overcome financial challenges Sunset of the week 3-6-17 UPDATE: After the loss of her husband, Shi Chen is struggling to make ends meet; GoFundMe campaign tops $11,000 New column: Wine Beat Katherine Fry takes home the gold – for her commitment to the Woodland Park Zoo’s conservation efforts Sunset of the week 2-27-17 You Are What You Eat: Oodles of noodles -- soups for winter What's Smarter -- Paying Off Debts or Investing? Westside-O-Rama West Seattle Entertainment Guide Sunset of the week 2-20-17 Pat's View: Conditions of Employment Chef Mariah Kmitta creates art on a plate Alair is a gift shop that likes those that give back Sunset of the week 2-13-17 Pat's View: For Love of Money Russ and Mollie Ford – Surviving together and sharing stories Brookdale Admiral Heights celebrates the Swing Era Feb. 16 Artist putting finishing touches on Junction Plaza Park sculpture Pat's View: Stan Boreson Sunset of the week 2-6-17 SDOT seeking your opinion on 'Traffic Calming" Good for you: Matches Made in Heaven Kitchen Talk: Some things are meant to be together! Sunset of the week 1-30-17 Women must act to overcome financial challenges 03/06/2017 updated 7 hours ago Sponsored by Sarah Cecil International Women’s Day, observed on March 8, celebrates the social, cultural and political achievements of women. Yet, women continue to face many challenges. For one thing, women still encounter gender-specific obstacles to their important financial goals, such as a comfortable retirement. If you’re a woman, what can you do to get past these barriers?  First of all, you need to recognize them. Here are a few to consider:  • Longer life spans – A 65-year-old woman is expected to live, on average, another 20.5 years, compared to 17.9 years for a 65-year-old man, according to the National Center for Health Statistics. That’s another 2½ years of life – and 2½ years more of expenses.  • Lower incomes – Women working full time in the United States typically are paid 80% of what men earn, according to Census Bureau data.  • More time away from the workforce – Men work an average of 38 years, compared to just 29 for women, according to the Pew Research Center and the Social Security Administration. The gap is largely due to women taking time off to care for young children and elderly parents. Women who work substantially fewer years than men will miss out on hundreds of thousands of dollars in earnings and many years of contributions to 401(k)s or other retirement plans.  • These statistics certainly are sobering – but they don’t mean you are powerless to improve your financial security. In fact, you can do quite a lot, including the following:  • Boost your retirement plan contributions – Put in as much as you can afford to your 401(k) or other employer-sponsored plan, and increase your contributions whenever you get a raise. And even if you have a 401(k), you may still be eligible to contribute to an IRA.    • You’ll help yourself by becoming familiar with the special issues women face in meeting their long-term goals. As you know, women have met challenges successfully for a long time. After all, Ginger Rogers did everything Fred Astaire did – except backwards, and in heels. This article was written by Edward Jones for use by your local Edward Jones Financial Advisor. 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