A new research project called the 2016 Gender Gap and Financial Wellness Study identifies that women are behind men when it comes to planning ahead for retirement savings and thinking about important issues like estate planning.
The impact of a woman leaving the workplace at different points in her career can have a significant influence on retirement savings, which makes it all the more important for women to think about the growth of their assets as well as how to pass them as they get older. There is a 28% gap in additional retirement savings for estimated retirement expenses, simply because women are expected to live longer.
All women should be aware of this potential gap and be willing to work with the relevant professionals including a financial advisor and an experienced estate planning attorney to talk about planning for the future. Planning for your estate does not have to only involve situations like passing on your assets after you die. For example, you may also wish to consider how your retirement savings and other assets will support you while you are alive in the form of your own estate planning. It is extremely important to partner with an experienced lawyer for this prospect. Ready to talk estate planning? Contact a Pasadena estate planning attorney today for more information.
