A study conducted by the Women’s Institute for a Secure Retirement (WISER) indicates that women have financial disadvantages in retirement. Part of the reason for this, according to the study, is that women spend 13 fewer years in the workforce than men. Fewer years of employment lead to lower Social Security benefits. Worse still, the average woman who reaches age 65 can expect to live to age 85, about 4 years longer than a man.

We must contribute the maximum amount allowable to our IRA or 401(k) plan, whichever you are eligible for. Remember, if you are a woman outside of the work force you may be eligible for a spousal IRA which can be funded by a working husband.

Next you need to thoroughly understand how to accumulate wealth in this account. By educating yourself on your investment options with your IRA or 401(k), what you can and cannot do within the plan, and knowing how much money you need to save for your retirement will get you started in the right direction.

Consider having some of these dollars invested in a truly self-directed IRA where you select the investment and have options in your control. Entrust can help you if you elect to diversify into a self-directed retirement account. www.theentrustgroup.com contains plenty of information to help you get started.

No matter which way you invest, you have to realize getting to easy street is no easy matter. Take control of your financial future now while you still have options.

This entry was posted on Friday, May 30th, 2008 at 8:42 am and is filed under Self-Directed IRA. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.