Financial Planning for Life After 50

By Deborah Rosenbloom, JWI

Money and aging are two topics many of us would rather not think about,  but our Life$avings® workshop last night on strategies to make money last through retirement reminded me of the importance of facing facts: I am getting older, and at some point both my husband and I will stop earning our income. Then what? How can we be sure that we’ll be able to afford our lives? Most of the women in the room had the same question: Then what? What are the best ways to plan for retirement? What do we do if we simply haven’t been saving enough money and need to “catch up”? What are some ways to plan ahead?
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When our guest speaker Talya Bock, a Financial Advisor at Merrill Lynch, asked everyone to call out what they thought about when hearing the word retirement, answers included lack of income, fixed budget and freedom – to start a business, pursue hobbies, travel and more. Talya assured us that by stepping into that scary place and being willing to think about and plan for retirement, we would all feel freer. Then she proceeded to share some practical strategies, and I know I’ll be talking to my financial planner about them.

This was the first of two free financial empowerment events for women over 50 in the Washington, DC area. The second will be Thursday, March 6th, 7:00 to 9:00 p.m. at a private home in Bethesda, Md., and is still open for registration.

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