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Do Women Need to Save More When Planning for Retirement?

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While the gap shifts based on age, race and other factors, the harsh truth is, when planning for retirement, most women have to work harder to save the same amount as men. While we work on changing this reality for our daughters, women can also take steps now to ensure they’re ready for whatever comes their way in retirement.

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Offering Financial Literacy Benefit Programs Could Save Businesses $40 Billion

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Employers offering a range of financial support options — such as retirement planning workshops, debt management counseling, and savings incentive programs — can lead to a more stable, productive, and health-conscious workforce. Here are some options: 1.Retirement

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How to Recover Financially From a Gray Divorce

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While divorce can be financially disruptive at any age, the stakes are higher among this age group, which is closer to or is already living in retirement. Because of this, their divorces look different than those of people in retirement. They’ve been planning [for] retirement as a couple,” Hetrick says. So now they’re behind.

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Financial Wellness Journey For Lasting Financial Well-Being

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These areas include the following—each of which we will describe in further detail below: Strengthening Short-Term Finances Building Sustainable Long-Term Finances Improving Current Financial Flexibility Securing Future Financial Freedom Strengthening Short-Term Finances Creating a budget can be a game-changer!

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Tori Dunlap, Founder of Her First 100K is on a Mission to Close the Gender Pay Gap

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But getting stuck in a cycle of accumulating and paying debt can create long-term emotional and financial damage that hold women back from other financial priorities such as buying a home, investing in the stock market or saving for retirement. The debt payoff plan I find effective and accessible for many people is the “Debt Avalanche”: 1.

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Everything You Need to Know About Emergency Funds

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Because you’ve thought ahead and set aside money for a rainy day, you’re less likely to use a high-interest credit card, take cash out of your retirement accounts or try to access the equity you may have built up in your home. This may take months, depending on how much room you have in your budget. Should I save or invest?

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2023 Financial Forecast: How to Prepare for the Year Ahead

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It’s become more difficult in the past year, however, to know what your expenses will be each month—and that makes it all the more challenging to stick to a budget. In the past year, two dynamics in the broader economy have made it especially difficult to stick with a budget and avoid racking up debt.

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