Why is planning for retirement important?

This is also a time to think about later years. Money is crucial to aging well and healthfully. Because women live longer and earn less than men, they face extra challenges in saving funds for their retirement years. Unfortunately, traditional sources of retirement income are less stable than before. Fewer people receive defined-benefit pensions, and the current level of social security payments is not guaranteed forever. Although some women can expect retirement income from their husbands or partners, most women receive nothing other than social security. Even those who were promised continued benefits after retirement may be denied pensions or health insurance when former employers merge, are bought out by other companies, or go bankrupt.
Take time to plan for your financial security in retirement. Make a long-term budget, check your pension benefits if you have them, find out about your social security benefits, increase your savings, and start an individual retirement account (IRA) account.

Find out more about this book: Our Bodies, Ourselves: Menopause

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