Money Talks News: Retirement Planning for Women

Planning for your golden years is essential for everyone, but especially women. Living longer than men is one reason why.

According to the Department of Labor, women are more likely than men to work in part-time jobs without retirement benefits, and also more likely to leave the workforce to care for family.

So add all that up and you've got more years in retirement and less money to fund it. If you're looking for more gold in your golden years, here are some tips that might help.

Step one... Think it through. When are you going to retire? What will you do in retirement? How much money will you need to do that? There are calculators online that can help decide these issues.

Step two... Assess your situation. What's your current debt? How about your savings?

If you're like most people, you're going to find a gap between what you have and what you need.

So step 3 is to start bridging that gap. One way is to check out Social Security. Go online and see what the benefits are that you'll expect. Also remember if you wait until you're 70, you're going to get a lot more for life.

Step 4... Use work retirement plans. If your employer offers one, contribute as much as you can, and always enough to get any company matching money.

And finally... Take care of your health. Healthcare makes up a big portion of retiree expenses.

Bottom line... figuring out exactly what you're going to need in retirement and then creating a plan to get it is going to make you feel way more in control of your financial future.

What you need now is more information, and it's waiting for you right here at Just do a search for "Retirement."

For Money Talks News, I'm Stacy Johnson.