A retirement checklist for women
HAVE A GOAL. It's tough to chart a course if you don't have a destination in mind. When asked how much they'll need to save for retirement, 42 percent of women surveyed indicated they were "not sure" -- and those who offered an answer admitted that it was a guess. Numerous financial Web sites offer online tools that can help you calculate a realistic goal.
LEARN THE INVESTMENT BASICS. Three-quarters of women surveyed said they don't know as much about retirement investing as they should. A big step in the right direction is to learn enough about the fundamentals of retirement investing in order to make a plan that's right for you. If you don't want to actively manage your account, paying fees to an adviser is a better solution than doing nothing at all.
NURTURE THE NEST EGG. Given the long-term horizon for retirement planning, your life circumstances probably will change. Periodically recalculate your savings goal to see whether your current level of savings is adequate to meet your retirement goal. Review your investment results and adjust your investment selections as needed. And consider whether you'll still retire at the age that you intended.
SOURCE: Transamerica Center for Retirement Studies survey