While a retirement shortfall isn’t news, few people recognize it does not affect everyone equally. Women are 80% more likely than men to be impoverished early in retirement, reported the National Institute on Retirement Security. We call this Bag Lady Syndrome and there are 5 actionable steps women can take to avoid experiencing a retirement savings shortfall.
If thinking about retirement makes you a bit queasy, it’s likely you haven’t prepared as well as you should. The good news is developing and implementing a retirement plan is fairly straightforward. Here are a few steps that can help boost retirement confidence.
Women like Deborah are more common today than ever before, across all income brackets and all professions. Multiple studies have been done on women’s biggest fears when it comes to money and on women’s relationship to financial planning, and believe it or not, Bag Lady Syndrome (BLS) has been identified as women’s number one financial fear.
Over the years, Lance Drucker, ChFC®, CLU® has worked with many powerful female clients, which inspired him to capture his experience and insights in a book titled “How To Avoid Bag Lady Syndrome: The Strong Woman's Guide To Financial Peace of Mind.” This recorded webinar takes a deep dive into some of the most pressing issues women encounter as they approach retirement.