Retirement planning is a critical issue for those of us in the baby boomer generation as we are moving into that transitional time even now. Throughout your career, retirement planning should have been an ongoing project, but if it’s something that you have been putting off or avoiding dealing with it’s time to stop, take a deep breath and face it head on.
You have had many challenges in life to overcome, and this one is no different. Keep in mind that your retirement plan is not going to take care of itself. It will determine the kind of lifestyle you will enjoy when you stop working, so, the sooner you get all of the details worked out the better. With a solid retirement plan completed you’ll be able to rest easier and you’ll be able to take more purposeful actions towards achieving the financial goals set forth in that plan.
Let’s take a look at three free resources to help you with retirement planning:
1. Women’s Institute for Financial Education
Wife.org has been around since 1988 as a non-profit resource for women’s financial education. Their slogan, “A man is not a financial plan,” might make you giggle, but it’s a sad truth that many women look to the men in their lives to take care of them financially. Another truth that women must reckon with is that women live on average about 15 years longer than their men, so their retirement income needs to last longer than men’s do.
The wife.org website is a fabulous source of information about financial management, divorce and widowhood, taxes and retirement. They also have a program called The Money Club, whose mission includes the goal to, “. . . empower women to deal more effectively with money.” Here you will get the information and support you need to set your own financial course. Find out more at moneyclubs.com.
2. The U.S. Department of Labor
The DOL website at dol.gov is another free resource for U.S. citizens. They offer several free publications that will help you to refine your retirement plan, make the most of your savings, and teach you how to file a claim for your retirement benefits.
You’ll find lots of links to helpful resources, some geared specifically towards women, with information about financial literacy and retirement planning resources for Generation X and Y women so that they can be better prepared as they grow closer to retirement age.
3. Women’s Institute for a Secure Retirement (WISER)
WISER is a non-profit organization that works with women, educators and policymakers focusing on women’s retirement income. Their website, wiserwomen.org, contains free information about savings and investing, retirement plans, health care, social security, care giving as well as divorce and widowhood.
They conduct research and publish booklets, a newsletter and various fact sheets on financial topics. They fund special projects and hold financial literacy events throughout the year.
Take advantage of these free retirement planning resources and get your financial life in good order. If you have suffered some losses relating your investments as a result of the downturn in the market and the ongoing recessionary climate, you might consider starting your own home based business to generate some additional revenue for a more secure retirement.
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