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5 Things You Can Do Now To Improve Your Financial Security For Retirement (continued)

Here is step 5 of what every Baby Boomer woman should do now to create financial security for retirement…plus a final word.

5. Open a Roth IRA.

Hedge Your Bet Against Future Higher Taxes-By Having More than One IRA. A Roth IRA uses after-tax money to build it and gives you more options in how you take money from your retirement savings after your retirement. With both a regular IRA and a Roth IRAs, you can choose whether to withdraw either taxable or non-taxable income in a given year, or a mix of both, depending on the income and the tax rates you will face that year. Continue reading 5 Things You Can Do Now To Improve Your Financial Security For Retirement (continued)…

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5 Things You Can Do Now To Improve Your Financial Security For Retirement (continued)

And now…Step 4:

4. Research and get quotes for long-term care insurance before you are closed out for health reasons.

Make an informed decision now about whether or not long-term care insurance makes sense in your situation. Then purchase the right policy as soon as it makes financial sense to do so, rather than waiting and having monthly premiums increase.  There are web sites (including ours) that can help you easily calculate the cost of waiting to buy a long-term care policy, so you can decide when it pays best to do it.  But no calculator can tell you if an unexpected health condition is going to prevent you from obtaining it.  So do this research now (our site at www.mybbrc.com can help you get quotes from the best companies quickly).  Make A Decision NOW Whether to Buy-or Not to Buy-So You Won’t be Closed Out, and You Will Have No Regrets Later.

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5 Things You Can Do Now To Improve Your Financial Security For Retirement (continued)

Here is the Third action step every Baby Boomer Woman should start taking now.

3. Get started on an accelerated debt reduction plan that also gives you a 10-year or less roadmap to financial security.

Whether you do it yourself, using widely available budgeting or money management software, or invest in an automated debt repayment acceleration system such as the United First Financial Money Merge Account (UFirst), make putting the power of compound interest to work for you a top priority this year.  This system should be easy to update (at least monthly) and should give you a little flexibility, while showing the exact long-term cost in compound interest of your spending decisions. Continue reading 5 Things You Can Do Now To Improve Your Financial Security For Retirement (continued)…

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5 Things You Can Do Now To Improve Your Financial Security For Retirement (continued)

As I promised, here is the second action step every Baby Boomer woman should be taking now.

2. Take extra steps NOW to safeguard your health.

We tend to focus obsessively on our financial capital, but it’s our human capital-our “aliveness”-that is really the engine that makes a long life continually worth living. Continue reading 5 Things You Can Do Now To Improve Your Financial Security For Retirement (continued)…

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5 Things You Can Do Now To Improve Your Financial Security For Retirement

If you’re anything like most people I know, you’ve struggled and worked hard to build up your retirement nest egg over the years, only to see much of it melt away because of inept fools in Washington, greedy idiots on Wall Street, and self-serving advice from so-called “expert advisers.” It’s truly sickening. Continue reading 5 Things You Can Do Now To Improve Your Financial Security For Retirement…

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