Who Runs the World?

Beyonce knows what I’m talking about. And in our previous post, when we discussed the sad reality that despite women still being the sole responsible gender for raising families i.e. raising our future, women more than men are finding themselves struggling in their retirement years.

“Strong enough to bear the children, then get back to business,” she sings. But the problem is that unless you are Beyonce with her multi-million dollar salary and billion dollar marriage and enterprise, getting back to business is harder than it sounds.

And that is one of the key ingredients to saving for retirement: working.

The bottom line is that women live longer, earn less, and have less time in the workforce to earn the smaller income. And while that may not be right by any means, it does mean that women need to think about planning for retirement differently than men.

When it comes to financial planning, here are a few tips specifically that women need to put at the top of their list.

  1. Start now. This goes for both men and women. The sooner you start, you sooner compound interest can get to work on multiplying your savings. For women, this is a big incentive because even if you start out saving less, the additional time your money is invested makes it grow even more.

  2. Save more. The United States government just released that women’s wages have increased, up two cents to 79 cents from the 77. It’s a step in the right direction, but still, a minute step. Therefore even as women make less, they need to save more to account for the anticipated longer lifespan.

  3. Plan for healthcare. Living longer means higher health expenses. The longer an individual lives, the more likely they are to have costly health issues. While unpleasant as it may be to consider this, you will be glad you did. Consider long-term care insurance or working longer with covered benefits to cover those costs.

  4. Save for yourself. If you have a spouse, do not rely on his/her retirement funds to cover your own. Again, it may not be rosy to think of losing a spouse, either by death or divorce, but things happen and it’s important to make sure you are taken care of. Women spend so much of their time taking care of everyone else, it would be tragic to not take care of yourself first.

It’s important for women especially to consider their individual situations when planning for retirement. It’s also imperative for them to find a financial advisor that does so as well.

Securities offered through GF Investment Services, LLC. Member FINRA/SIPC. 501 N Cattlemen Rd, Ste 106, Sarasota, FL 34232. (941) 441-1902. Investment advisory services offered on a fee basis through Global Financial Private Capital, LLC, an SEC Registered Investment Adviser.






We are an independent financial services firm helping individuals create retirement strategies using a variety of investment and insurance products to custom suit their needs and objectives.

Securities and investment advisory services can only be solicited in the states where a financial professional is licensed and registered to do business in. Please inquire as to which states the financial professional is licensed and registered in before engaging in a business relationship. Securities offered only by duly registered individuals through Madison Avenue Securities, LLC (MAS), member FINRA/SIPC. Advisory services offered only by duly registered individuals through Global Wealth Management Investment Advisory (GWM), a Registered Investment Advisor. MAS and GWM are not affiliated entities.

David Bach does not endorse Global Wealth Management or the presenter. The firm is not affiliated with the US government or any governmental agency. Neither the firm nor its agents or representatives may give tax or legal advice. Individuals should consult with a qualified professional for guidance before making any purchasing decisions.

Investing involves risk, including the potential loss of principal. No investment strategy can guarantee a profit or protect against loss in periods of declining values. None of the information contained on this website shall constitute an offer to sell or solicit any offer to buy a security or any insurance product.

*Any references to protection benefits or steady and reliable income streams on this website refer only to fixed insurance products. They do not refer, in any way, to securities or investment advisory products. Annuity guarantees are backed by the financial strength and claims-paying ability of the issuing insurance company. Annuities are insurance products that may be subject to fees, surrender charges and holding periods which vary by insurance company. Annuities are not FDIC insured.

Any media logos and/or trademarks contained herein are the property of their respective owners and no endorsement by those owners of Global Wealth Management or its representatives is stated or implied. All media appearances are paid placements.

The Society of Financial Awareness "SOFA" is a paid membership organization comprised of professionals of varying specialties. SOFA is a 501(c)(3) non-profit organization whose focus is to provide financial education to individuals, businesses and organizations through member professionals. The SOFA logo and/or trademarks are property of their respective owners and no endorsement of Global Wealth Management or its representatives is stated or implied.

The National Ethics Association (NEA) is a paid membership organization. All NEA Background-Checked members have successfully passed the annual seven-year background checks for criminal, civil, and business violations in order to meet the membership standards. However, the association provides no guaranteed assurance or warranty of the character or competence of its members. Always make financial decisions on the basis of your own due diligence.

The information and opinions contained in any of the material requested from this website are provided by third parties and have been obtained from sources believed to be reliable, but accuracy and completeness cannot be guaranteed. They are given for informational purposes only and are not a solicitation to buy or sell any of the products mentioned. The information is not intended to be used as the sole basis for financial decisions, nor should it be construed as advice designed to meet the particular needs of an individual's situation.