WomenWhoMoney

Helping Women Take Control of Their Finances

Join the community making money a verb

Get personal finance news, resources, and educational articles.

Privacy Policy
Home » Retirement Planning

Retirement Planning

What Is A Backdoor Roth IRA And Is It Right For Me?

This page or article may contain affiliate links. Please read our Disclosure and Disclaimer for more information. We are a participant in the Amazon Services LLC Associates Program, designed to provide a means for us to earn fees, at no additional cost to you.

When it comes to retirement savings accounts, there are several options available. But your choices for individual retirement accounts can seem limited if you’re a high-income earner. This is especially true when you look at the Roth IRA. A Roth IRA (Individual Retirement Account) is an excellent way to save for retirement. Though you pay […]

Is Investing A Lot Of Money At Once the Best Idea? Or Should I Spread It Out?

This page or article may contain affiliate links. Please read our Disclosure and Disclaimer for more information. We are a participant in the Amazon Services LLC Associates Program, designed to provide a means for us to earn fees, at no additional cost to you.

It’s the week your big bonus from work hits your bank account. Or you receive a sizeable cash gift or inheritance from a relative. Perhaps you have proceeds from the sale of your home or cash from a rollover retirement account. Or you’ve just been saving money for a few years and now understand why […]

Healthcare Costs in Retirement – Avoid These Big Mistakes

This page or article may contain affiliate links. Please read our Disclosure and Disclaimer for more information. We are a participant in the Amazon Services LLC Associates Program, designed to provide a means for us to earn fees, at no additional cost to you.

Many of us don’t think about retirement or saving for it until it’s too late. When we do save, we plan for money to cover rent, utilities, groceries, and insurance. However, many people overlook saving for healthcare costs in retirement. This is by far one of the biggest mistakes you can make during your time […]

What Savings Goals Should I Focus On First?

This page or article may contain affiliate links. Please read our Disclosure and Disclaimer for more information. We are a participant in the Amazon Services LLC Associates Program, designed to provide a means for us to earn fees, at no additional cost to you.

You’ve been working hard to cut expenses and quit living paycheck to paycheck. You negotiated a raise or landed a higher-paying job. Your side gig is creating a buffer in your budget. No matter the reason, it’s time to put the extra money in your bank account to work. But now you’ve got questions on […]

Work Optional: Retire Sooner To Live Your Best Life [A Book Review]

This page or article may contain affiliate links. Please read our Disclosure and Disclaimer for more information. We are a participant in the Amazon Services LLC Associates Program, designed to provide a means for us to earn fees, at no additional cost to you.

If you’ve spent any time reading about personal finance lately, you’ve likely heard about the “FIRE” movement. FIRE means Financial Independence – Retire Early. Suze Orman got headlines by announcing she hated the FIRE movement (but she changed her position a few weeks later.) While Clark Howard “FIRE’d” before it ever became a popular thing to […]

Prepare For Retirement To Enjoy Being A Lifetime Fan

This page or article may contain affiliate links. Please read our Disclosure and Disclaimer for more information. We are a participant in the Amazon Services LLC Associates Program, designed to provide a means for us to earn fees, at no additional cost to you.

This is a sponsored post for Prudential. Recently, Vicki (one of the co-founders of Women Who Money) enjoyed a beautiful fall afternoon partnering with Prudential at a “lifetime fans” event outside of the Prudential Center in Newark, New Jersey. The event promoted the importance of protecting lifetime income to help pay for your essential expenses […]

How Does A 401(k) Loan Work? Is Using One A Good Idea?

This page or article may contain affiliate links. Please read our Disclosure and Disclaimer for more information. We are a participant in the Amazon Services LLC Associates Program, designed to provide a means for us to earn fees, at no additional cost to you.

If you contribute to a 401k plan through your employer, it could be one of your most substantial assets besides your home. And if money is tight and your savings account balance is running low, you might wonder how you can tap into the funds in your 401k for a loan. But you know there […]

What Is An IRA And How Does It Work?

This page or article may contain affiliate links. Please read our Disclosure and Disclaimer for more information. We are a participant in the Amazon Services LLC Associates Program, designed to provide a means for us to earn fees, at no additional cost to you.

Saving for retirement is critically important and should be a part of everyone’s financial picture. But what can you do if you are already maxing out your employer-sponsored retirement plan? Left behind an old 401(k) when you changed jobs? Or just don’t have access to one? It’s simple. You can open up an IRA or […]

Protect Your Retirement Day with Prudential – A Women Who Money Review

This page or article may contain affiliate links. Please read our Disclosure and Disclaimer for more information. We are a participant in the Amazon Services LLC Associates Program, designed to provide a means for us to earn fees, at no additional cost to you.

This is a sponsored post for SheSpeaks/Prudential. Recently, Amy and Vicki (the co-founders of Women Who Money) participated in Protect Your Retirement Day in New York City as a partner of Prudential. The event was sponsored by the Alliance for Lifetime Income, a nonprofit 501(c)(6) organization educating people on the importance of, and the ability […]

What Are Those Target Date Things In My Retirement Plan?

This page or article may contain affiliate links. Please read our Disclosure and Disclaimer for more information. We are a participant in the Amazon Services LLC Associates Program, designed to provide a means for us to earn fees, at no additional cost to you.

If your employer offers a retirement savings plan, chances are one of your investment options is a target date fund. They may be grouped under a heading such as “Do the Investing for Me”, “Balanced”, or “Asset Allocation”. You will recognize them because they have a year in their name, such as 2045. You may […]

What Is A 457 Plan And Who’s Lucky Enough To Qualify For One?

This page or article may contain affiliate links. Please read our Disclosure and Disclaimer for more information. We are a participant in the Amazon Services LLC Associates Program, designed to provide a means for us to earn fees, at no additional cost to you.

There’s a good chance you’ve heard a lot of talk about retirement plans. In particular, most people are familiar with 401(k) plans. But if you work in the public sector, you likely won’t be able to get your hands on a 401(k). Instead, your employer probably offers a 403(b) option. Those retirement plans are important, […]

I Love Part-Time Work But How Do I Plan For Retirement?

This page or article may contain affiliate links. Please read our Disclosure and Disclaimer for more information. We are a participant in the Amazon Services LLC Associates Program, designed to provide a means for us to earn fees, at no additional cost to you.

Work. Even though we know we have to work until we are financially independent, many of us have a love-hate relationship with it. We love the money we earn, but we aren’t always thrilled with our jobs or how much of our lives revolve around work. The description of a “traditional” career has changed over […]

Personal Capital Review 2019: The Best Free Financial Tools

This page or article may contain affiliate links. Please read our Disclosure and Disclaimer for more information. We are a participant in the Amazon Services LLC Associates Program, designed to provide a means for us to earn fees, at no additional cost to you.

Women Who Money wants to help women (and men) at all levels take control of their finances! Our goal is to provide you with the knowledge, skills, and tools necessary to improve your financial health. And Personal Capital is high on our list of must-have tools for managing your finances. This Personal Capital review was […]

How Do I Use My 401(k) Savings Plan To Make More Money?

This page or article may contain affiliate links. Please read our Disclosure and Disclaimer for more information. We are a participant in the Amazon Services LLC Associates Program, designed to provide a means for us to earn fees, at no additional cost to you.

Please note: This article assumes that you have access to an employer-sponsored 401k savings plan.  It will not go into retirement plans for the self-employed.  For more information on that, please click here. Whether you’ve just started a new job or you’ve been with the same company for years, it’s critical for you to understand […]

Spousal IRA: What Is It And Can I Benefit From One?

This page or article may contain affiliate links. Please read our Disclosure and Disclaimer for more information. We are a participant in the Amazon Services LLC Associates Program, designed to provide a means for us to earn fees, at no additional cost to you.

Stay at home parents and spouses who have little-earned income can fall behind when it comes to saving for retirement. But, for those who are married and file a joint tax return, a spousal IRA may be well worth investment consideration. Although there are a number of requirements (mentioned below) the spousal IRA can be […]

Health Savings Accounts: What Are The Pros, Cons & Limits Of HSAs?

This page or article may contain affiliate links. Please read our Disclosure and Disclaimer for more information. We are a participant in the Amazon Services LLC Associates Program, designed to provide a means for us to earn fees, at no additional cost to you.

During health plan or open enrollment time, your place of employment probably looks like many others. There are lots of “water cooler” conversations about different plans, past experiences, deductibles, and copays. Health savings accounts are drawing your attention and you want to learn more. Let’s say last year you spent $8,000 on the “Cadillac” medical […]

What Are The Best Retirement Plans For The Self-Employed?

This page or article may contain affiliate links. Please read our Disclosure and Disclaimer for more information. We are a participant in the Amazon Services LLC Associates Program, designed to provide a means for us to earn fees, at no additional cost to you.

You know you should be stashing money away on a regular basis, but anyone who’s working for themselves knows earnings can vary drastically month to month. Also, you’re not sure what the best retirement plans for self-employed individuals are. So, what’s a busy entrepreneur with an inconsistent income and no time to research retirement plans […]

Can I Save For Retirement While Helping My Kids & Parents?

This page or article may contain affiliate links. Please read our Disclosure and Disclaimer for more information. We are a participant in the Amazon Services LLC Associates Program, designed to provide a means for us to earn fees, at no additional cost to you.

If you’ve asked yourself how you’ll save for retirement while also financially helping your kids and parents, you’re not alone. A few years ago, the Pew Research Center reported that almost half of all adults in their 40’s or 50’s were either raising a child or supporting a grown child, while also helping a parent […]