• Skip to primary navigation
  • Skip to main content
  • 1-800-960-1371
  • Agent Login
  • Quoting Tools
    • Life
    • Senior
  • Free Marketing Guide
  • Blog

AgentLink

With AgentLink, you have easy access to the carriers you want and the tools and resources you need to offer the best to your clients.

  • Products
        • Life
          • Info
          • Products
          • AML Training
          • Quoting Tool
        • Senior
          • Info
          • Products
          • Certifications
          • Compliance
          • Quoting Tool
        • Group Benefits
          • Info
          • Products
          • Our Process
          • Quote Request Form
        • Individual Benefits
          • Info
          • Products
          • Our Process
          • Enrollment Tool
        • See our Concierge Services
  • Tools
  • Resources
    • Marketing Guide
    • Carrier Links
    • Group Compliance Resources
    • Sales Webinars
    • Training Webinars
    • Marketing Webinars
    • Errors & Omission Program
  • About
  • Contact Us
  •  1-800-960-1371
  • Life Quoting Tool
  • Senior Quoting Tool
  • Marketing Guide
  • Blog
Previous
Next

Women and retirement realities

Original posted to LifeHealthPro
FEB 06, 2015 | BY LYNETTE GIL

With the jobs report released and the positive numbers indicating that interest rates might be increasing in the coming months, how will this affect women who are going to retire in the near and longer in the future? There is still a retirement and wage gap between women and men and, although it’s closing, “it results from multiple long-term socio-economic conditions,” according to Donna M. Phelan, advisor, speaker, former president of the American Association of Individual Investors (AAII) Connecticut state chapter, and author of “Women, Money and Prosperity: A Sister’s Perspective on How to Retire Well” in a recent article.

Phelan, who was also a member of the Financial Women’s Association in New York, attributes most of the reasons why women are behind in saving for their retirement to:

– Stagnating wages
– Wage gap between women and men
– Wage disparities between ethnicities
– Not starting their careers in management positions or getting those promotions
– 401(k) gender gap that is bigger than the gender wage gap (for example: an average man’s 401(k) savings was $100,000 while an average woman’s was $59,300)
– Women leaving the workforce to care for children or the elderly
– Upon re-entering the workforce, lagging behind in pay and promotions, or hinders career progress
– Leaving the workforce for caregiving subtracts from their Social Security potential earnings
– Living alone increases their chances of living in poverty
– Singlehood poses a threat to women’s retirement
– Longevity is another risk factor

Phelan exposes all of these reasons, with data from various sources, as a “food for thought” commentary. “What if the old method of trying to save enough for retirement doesn’t work for women?” she asks. “New strategies are needed if women are going to thrive in retirement. Women should consider working longer in their careers, and part-time in retirement.  Women should also consider non-traditional residence sharing – renting out empty bedrooms, getting a roommate, and downsizing.  With the savings from reduced housing expenses, women could make financial investments in income-producing vehicles. Women could also turn their hobbies – for which they already have the skills, tools and materials – into profitable home-based businesses,” Phelan recommends.

She also makes a strong call to all women: We need to understand our role in our retirement and take responsibility. Phelan also mentions that one way to achieve this is to become more financially literate and be vocal advocates for other women to also think about their own retirement. “What are their friends doing to prepare for retirement? What if they got together once a month over coffee to start a conversation about women and retirement? They might discover that they have ideas, talents and resources to share with other women, who might enhance the retirement planning experience and success of a larger scope of women,” she said.

Filed Under: News and Updates, Retirement

Previous Post: « Anthem Implements Consolidated Commission Process
Next Post: What’s PPACA World really like? »

You might also enjoy...

Health Care ChangesStaying Aware of Health Care Legislation Changes

We’ve made it our aim to keep our agents– and anyone who follows our updates– informed about the many changes to health care legislation this year. We are so committed to this, we have even retained a health care reform attorney at AgentLink. We want you […]

Read More
We Had Fun at Our Company Picnic!

Every year at AgentLink we host an event to gather all our team members together for some casual fun. This year, for the first time, we expanded the event and had a huge picnic that included all our family members. We had 85 people join us […]

Read More

Don’t forget to browse the free tools and resources we offer our agents and prospects, including our popular online quoting tools

Download the Digital Marketing Guide

Go to Resources

Get Contracted Now

Contract with us, to get appointed with your desired carriers

Please enter your email address below  to stay up-to-date with changes in the industry.

  • This field is for validation purposes and should be left unchanged.

Copyright © 2023 · Showcase Pro on Genesis Framework · WordPress · Log in

  • About
  • Contact
  • Careers
  • Life
  • Senior
  • Group Benefits
  • Concierge Services

Agent Login

Resources

Tools

Free Marketing Guide

1-800-960-1371

AgentLink Kentucky Office
2001 Lake Point Way, PO Box 23570
Louisville, KY 40223
Toll Free: 800.960.1371
Direct: 502.245.1371
Fax: 502.245.0978

AgentLink Indiana Office
3077 East 98th Street, Suite 135
Indianapolis, IN 46280
Toll Free: 866.462.9067
Direct: 317.569.8490
Fax: 317.569.8705

Copyright © 2021 AgentLink. All Rights Reserved.
Website Design and Digital Marketing by The Marketing Squad

  • Senior Products
  • Quoting Tool
  • Get Contracted
  • Brittney: 502-245-1371
  • Life Products
  • Quoting Tool
  • Get Contracted
  • Scott: (502) 245-1371
We use cookies to make our website a better place. Cookies help to provide a more personalized experience for you and web analytics for us. To learn more, and to see a full list of cookies we use, check out our Privacy Policy.
Cookie SettingsAccept
Manage consent

Privacy Overview

This website uses cookies to improve your experience while you navigate through the website. Out of these, the cookies that are categorized as necessary are stored on your browser as they are essential for the working of basic functionalities of the website. We also use third-party cookies that help us analyze and understand how you use this website. These cookies will be stored in your browser only with your consent. You also have the option to opt-out of these cookies. But opting out of some of these cookies may affect your browsing experience.
Necessary
Always Enabled
Necessary cookies are absolutely essential for the website to function properly. This category only includes cookies that ensures basic functionalities and security features of the website. These cookies do not store any personal information.
Non-necessary
Any cookies that may not be particularly necessary for the website to function and is used specifically to collect user personal data via analytics, ads, other embedded contents are termed as non-necessary cookies. It is mandatory to procure user consent prior to running these cookies on your website.
SAVE & ACCEPT
  • Products
    ▼
    • Life
      ▼
      • Info
      • Products
      • AML Training
      • Quoting Tool
    • Senior
      ▼
      • Info
      • Products
      • Certifications
      • Compliance
      • Quoting Tool
    • Group Benefits
      ▼
      • Info
      • Products
      • Our Process
      • Quote Request Form
    • Individual Benefits
      ▼
      • Info
      • Products
      • Our Process
      • Enrollment Tool
    • See our Concierge Services
  • Tools
  • Resources
    ▼
    • Marketing Guide
    • Carrier Links
    • Group Compliance Resources
    • Sales Webinars
    • Training Webinars
    • Marketing Webinars
    • Errors & Omission Program
  • About
  • Contact Us
  •  1-800-960-1371
  • Life Quoting Tool
  • Senior Quoting Tool
  • Marketing Guide
  • Blog