Women in the work force; where do you stand in retirement?

     The US Census Bureau provides some interesting facts;

  • There are approximately $154 million people (16 and over) employed in the US; approximately 82 million men and 72 million women.
  • 7.5 million women hold down two jobs.
  • 22 million female workers are employed in educational services, health care or social assistance.
  • Approximately 70% of workers have access to medical care.


So what does this mean to female employees in the workforce and planning for retirement;

Here are some suggestions to get you started or improve your situation;

  • Plan for retirement now. Set you goals and stick with a fixed percentage of your pay into an IRA, 401K or savings plan at the credit union.
  • Get rid of your debt, especially credit cards. The average middle aged woman (45-59 years old) had nearly $12,000 in credit card debt. Yikes!! KaiPerm can assist you with a bill consolidation loan.
  • Nearly 20% of women 65 years and older live in poverty. In addition to retirement funds, you need to budget for a rainy day savings account.
  • Know your financial situation. If you are married, it is imperative that you know where the money is and where it goes. Talk to your spouse and make sure the two of you are on the same page financially.
  • If you are divorced, then set up a plan immediately and take an inventory of assets and debts. Talk with a close friend about your plans and goals; ask for feedback.
  • Setup a simple spreadsheet or fact sheet with names and account numbers. There are several software programs you can use to budget and keep track of assets (things you own) and liabilities (debt you owe). Set annual goals.


More help;

Go to these websites

  • www.SMARTMONEY.com. This is a great website to get started. It will increase your financial literacy.
  • www.WIFE.org The Women's Institute for Financial Education is the oldest non-profit organization dedicated to providing financial education to women in their quest for financial independence.
  • www.Miserlymoms.com . This will help you control spending and show you how to shop for bargins.
  • www.Mymoney.gov. More good information to help you manage your money. Your credit union has several options that you may not be aware of.


Need financial counseling? Call KaiPerm. We can you get started, set up a plan and help you reach your financial goals.

Good luck!