3 Tips for How Women Can Up Their Retirement Game | Quicken Loans


– Hi, I’m Catherine Alford. I’m a family finance
expert and financial writer dedicated to helping you live
your best financial life. I’m a mom of twins, the
wife of a busy physician, and together we’re paying down
six figures of student loans all while trying to save for the future. I know what it’s like to
juggle many responsibilities, and I’m excited to share what
I’ve learned along the way so you can make the most of your finances. We all know that saving for
retirement should be a priority, but as women we have many
other competing priorities that demand our time, our attention, and of course our money. However, if you want to improve
your retirement savings, here are three tips that
will help you do just that. Tip number one, work hard
to improve your income. Statistically women are
actually better savers than men, but because they tend
to make less than men over the course of their careers, men often end up with bigger nest eggs for their retirement. So, as a woman, you have to
be proactive in your career. You need to ask for raises, you need to look for other opportunities, and you could even look
into switching careers just to make sure that
your income increases year after year. If you do this, you
will be well on your way to having the perfect size
nest egg for your retirement. Tip number two, make it automatic. If you wait until the end of the month to save for retirement, it will never happen. Trust me, I know this from experience. The trick is to make sure
that every time you get paid, you save and invest automatically. If you have a work
sponsor retirement plan, this is a lot easier
because you can set it up with your employer that you
have a specific amount saved from your paycheck and invest
into your retirement account. However, if you don’t have a
work sponsor retirement plan, this step is going to be up to you. Make sure that as soon
as you get your paycheck, a certain amount is automatically put into your retirement account. Tip number three, keep
your retirement goals at the forefront of your mind. Know why you wanna save for retirement. Know what you wanna do
during your retirement years. Every time you get tempted to spend money, make sure you’re paying yourself first by investing in your retirement accounts. Ideally, 15% of your income. It might not seem like it now, but saving for retirement
can be one of the best things you ever do for your future self.

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