maybe this is more of a finance queation. how do single women approaching 50 deal with the future?

Question

if you don't have a husband and possible pension from them or yourself......how can you plan for a comfortable retirement?

Answer 1

Er... the same way anyone else would.

I know it's a radical concept, but men aren't the only people who earn money. Nor are they the only ones who should be planning for the future.

I'm 36; never been married, may never be married. I started planning for my retirement about seven years ago. Probably should've started earlier, but such is life.

If you're nearing 50 and still haven't started, it's time for a serious wake up call. You're going to have to start saving and be ruthless about it.

Do you have a 401k? If not, is there one available where you work? Or could you start a solo 401k (if you're self-employed)?

Ever thought about an IRA? (I don't know that a Roth IRA is in your best interest if you're nearly 50 and you don't already have some savings established, since your income after retirement is likely to be lower than before it.)

Incidentally, there aren't a lot of pension plans any more.

Do some research and get started saving NOW.

Answer 2

I am 46 and had the same concerns. The way I chose to deal with the future was by starting my own home based business. I found a product that was extremely beneficial to the baby boomers but also to anyone with health issues. At my age, I know a lot of people with a variety of health issues!
I decided to work with some very successful people who are teaching me every day.

This business earns you residual income, so you are still earning even on days you cannot work. The residual income alone, will get you through retirement very comfortably. My Father joined me in this business and couldn't believe how quickly his income surpassed his pension. He too will never have to worry about money ever again.

With the proper training and effort, within a very reasonable amount of time, you could be earning more than you ever have in the work world, and it can be done from home.

Answer 3

I am singe and I count on my own pension , not someone elses . . .
That live on husbands pension mindset was decades ago.
Also , I live Below my means and put $$$ info the portfolio - stocks, CDs and especially , energy trusts that have good dividends. Not all work out , but more do than don't and the portfolio is up 350 %.

You have about 20 years until retirement . . . get a job that has a pension or 401K option.

Answer 4

You're smart to start planning now instead of 10 years from now, so start by giving yourself some credit.

If you work for a company that provides a 401(k) plan, any finance professional will tell you to start by investing there. Most companies provide some sort of matching contribution (free money!), and once you reach age 55, you can make catch-up contributions into the plan as well. Many plans offer an "automatic" reallocation of your assets into less risky funds as you get closer to retirement.

You might also want to talk to a financial advisor; your bank, credit union, 401(k) plan, or even your company may have one that you can meet with for a free consultation. Invest in no-load mutual funds that are diversified (split among a number of different investments.) Diversification will minimize your risk.

Putting aside a portion of your check into a direct deposit savings plan (401[k] or otherwise) is a good way to save - out of sight, out of mind.

And, as a single woman (and parent) approaching a certain age myself, I've learned to live below my means now to save for later. I have a closetful of designer clothes from the local secondhand stores; my car may not have all the bells and whistles but it's affordable; drugstore cosmetics are often just as good as the expensive brands; and so on. Look at your expenses; make a budget; and then look for things you can cut down on (that $3./day Starbucks habit adds up to over $1k/year!)

Best of luck and happy saving!

Answer 5

Why do you think of purely unmarried women human beings have those fears? you could spend an prolonged time with a guy putting up along with his bull and in the tip he can ditch you for a youthful chick or loose his activity and in the tip you haven't any longer something. the destiny isn't preserve for all and sundry (except you win the lottery) All you're able to do is make the main suitable on a daily basis judgements you could, shield your wellbeing and characteristic a help group of friends and relatives (brothers, sisters) around you. some human beings turn to Rx drugs to help with tension, yet i would not advise it.

Answer 6

I don't know anyone that age (married or not) who DOESN'T have their own retirement account. If you don't have one, you are living in some altered reality and whatever you are thinking is not going to work.

Answer 7

open an IRA. see an accountant or investment income broker.

Answer 8

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