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ABOUT RETIREMENT PLANNING FOR WOMEN BREADWINNERS By Rose Price, CFP® AIF®
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hen I started my career, I was part of a dual-income household. Three children and one debilitating back injury later, I have become the sole provider for my family. I know I am not alone, 40% of American households have a woman as the primary breadwinner.1 This shift from the traditional homemaker role has left many women to perform the non-stop juggling act of working, running the household, and managing the family’s finances. With so much to deal with, many women put saving for retirement on the back burner. Prioritizing self-care is always tricky for women, but planning for the day you can finally stop working should be at the top of every woman’s to-do list. I know how
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hard it can be to put yourself first, but the list below provides three things every woman should think about when it comes to retirement: Competing priorities do complicate retirement planning—but does not make it impossible If you’re responsible for your household’s income, children’s education, and/or the care of your aging parents, it can be difficult to prioritize saving for your own retirement above the needs of your loved ones. It may even seem selfish to put money away for you own future, but your ability to take care of others is also dependent on your ability to take care of yourself.
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