Are you prepared to embrace retirement?

Think of your financial life as a three-act play.

Act one: You grow up and learn how to make a living.

Act two: As a grown-up with a career, you pay your bills while you earn and save for retirement.

Act three: You embrace retirement.

While retirement may seem far off, it can arrive sooner than you think. Many women may find themselves unready for the challenges they can face in retirement.

While you’re still in act two, prepare for the financial, social, and health matters you may face in act three.

Financial

Lay the foundation for continued earnings as a retiree because extra income can make your retirement savings last longer.

• Attend a Voya Financial Investing for Women webinar, choose a financial professional you trust, be a better saver and delay starting your monthly Social Security income.
• Take a class and develop skills or monetize a current hobby to generate income in retirement.
• Grow your skills for meaningful post-career work. For instance, if you like to mentor, consider a mentoring job.

Relationships

Cultivate friendships outside work.

• Create a personal social network because many women find their work friendships fade in retirement.
• Develop relationships with others, especially younger people, who share your passions and interests.

Health

Invest in better health now.

• Deal with health concerns as they occur. Use the sick leave you’ve earned to address issues so you can enter retirement healthier and enjoy life more.
• Don’t wait. Be healthy. Eat better, sleep better, and exercise regularly now, not later.

What have you missed?

In February, we provided suggestions on how to strategize and plan so you may reach your financial goals and find peace of mind in retirement.

In January, we offer information on the IRS saver’s credit to help find tax savings when you need it most while you also save for retirement.

Find this information and more on our Women & Retirement website, and watch for future topics in 2022.