Why do working women need retirement planning

LEAVE A LEGACY FOR YOUR CHILDREN OR SPOUSE

By making little sacrifices today, you can help lock in the retirement lifestyle and security you want tomorrow, helping to assure that retirement years for you and your family are in fact your golden years—safe, secure, free of financial worry.

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WOMEN TEND TO LIVE LONGER THAN MEN

Only one-third of women over sixty-five are married, and on an average women will survive their husbands by fifteen years. The combination of being on their own and living longer means that women need far more retirement income than do most men.





FACTOR OF DEPENDENCY

Depending on one person’s retirement savings might be insufficient, as it will be difficult to maintain same life style post retirement on single person













FAMILY’S CO-BREADWINNERS/BREADWINNERS

Always have a long-term view when saving for retirement. It will be beneficial in the later years for your family when health declines and medical expenses increase, including extra care, which may be in-home or in a facility.







MAKE RETIREMENT PLANS A PRIORITY

Consider sacrificing some current salary in return for a good retirement plan, and seek out employers who will match part or all of your savings in a contributory plan.





WOMEN MAY EARN LESS THAN MEN

The reasons behind the gender pay gap are up for debate, but the reality is women earn less than men, women often are unable to invest as much as men. So, they need to invest more in retirement plans, to ensure a secured future.







WOMEN MAY SPEND FEWER YEARS IN THE WORKFORCE

Raising children or caring for elderly parents means taking time out of the workforce. Losing those high-paying years could result in lower Social Security payments in retirement. Taking time out of the workforce could also mean less money.










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Disclaimer:HDFC Standard Life Insurance Company Limited. In partnership with Standard Life Plc. CIN: U99999MH2000PLC128245, IRDAI Reg. No.101 Registered Office: HDFC Standard Life Insurance Company Limited, Lodha Excelus, 13 th Floor, Apollo Mills Compound, N.M. Joshi Marg,Mahalaxmi,Mumbai, 400011. Email: [email protected], Tel No: 1800-266-9777 (9am to 9pm).

Insurance is the subject matter of the solicitation. HDFC Life Cancer Care (UIN No: Form No. P501 – 133, UIN: 101N106V01) is a traditional non-participatory insurance product. For more details on risk factors, associated terms and conditions and exclusion please read sales brochure carefully before concluding a sale. ARN: MC/10/2015/7032

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Why do working women need retirement planning