Three Part Series (3 of 3)
How Can Women Close the Retirement Savings Gap? (2 min read)
How Can Women Close the Retirement Savings Gap? (2 min read)
Women expect they'll have a five-year income shortfall in retirement. Men, on the other hand, believe that their income will be enough to meet their needs.
Here's the third of three things a woman can do to shore up their savings:
About 25 percent of the women and nearly 2 in 10 men polled by MassMutual said they were comfortable with a little investment risk, even if it meant accepting below average investment returns.
Whether you should increase your exposure to the stock market depends on a number of factors, including your time to retirement and tolerance for risk.
Avoid going whole hog into stocks if you're approaching retirement in order to make up for meager savings. A market downturn when you're about to stop working can be devastating to your finances.
"You can't make up for a lack of saving and compounding by ratcheting up your market risk in your 60s and 70s, . . . . punching the clock for a few more years so that you continue to save might be a better call.
Source: CNBC
About 25 percent of the women and nearly 2 in 10 men polled by MassMutual said they were comfortable with a little investment risk, even if it meant accepting below average investment returns.
Whether you should increase your exposure to the stock market depends on a number of factors, including your time to retirement and tolerance for risk.
Avoid going whole hog into stocks if you're approaching retirement in order to make up for meager savings. A market downturn when you're about to stop working can be devastating to your finances.
"You can't make up for a lack of saving and compounding by ratcheting up your market risk in your 60s and 70s, . . . . punching the clock for a few more years so that you continue to save might be a better call.
Source: CNBC
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