“A smart women doesn’t retire – she simply reinvents!”Katana Abbott
What does retirement mean to you? Personally, I think we need a new word for it! According to a new study by Age Wave, “Retirement no longer means the end of work. Approximately 95% of pre-retirees expect to work in some capacity during their retirement, either by choice or necessity.” I call this retiring into something rather than from something, and it’s smart for many reasons.
When I first started my financial planning career in 1987, things were very different. When folks came to me, they normally had a pension, Social Security, and their homes were paid off. In addition, when we wanted to generate safe income with their savings, we could turn to Ten-Year Treasury Bonds which were paying 10%. Today, those same bonds are paying .65%. What this means to you is instead of receiving $10,000 per year, today’s bonds would pay you just $650 per year! That’s right! So for our new retirement paradigm we need a New Retirement Solution™. For more on this topic, please visit my new website and download my new free guide, Three Smart Strategies to Maximize Your Retirement Income.
Most women I talk with want to explore flexible work schedules that include new ideas to generate income after traditional retirement. This would allow their Social Security and savings to grow. The key to all of this is planning and making smart choices. This month, we are focused specifically on how COVID-19 is affecting both your retirement saving plans, as well as your retirement lifestyle.
I’m beyond thrilled to be interviewing two of the nation’s top experts on this topic. I first interviewed Denise Appleby about 10 years ago, and today, I’ve invited her back to share how the SECURE Act and the CARES Act change how you can access funds from your retirement plan accounts. It may sound a bit technical, but this information is very important, and we promise to make it easy to understand, so bring your notepad please!
I’m also interviewing Maddy Dychtwald, who I’ve invited back several times to share her wisdom on women, aging, and retirement. This month, Maddy will reveal the results from a new study her firm, Age Wave, in partnership with Edward Jones and the Harris Poll just published. The report, The Four Pillars of the New Retirement, set out to discover how retirees are faring today, compared to the general population of adults in both the U.S. and Canada. The results will surprise you!
Since many of us will be exploring work that feeds our soul and supplements our pensions, Social Security, and savings, we invite you to come visit the Smart Women’s Academy and register for our newest free course, Turn Your Passion into Profit!
And lastly, we are participating in the Your Best Life Now Giveaway this month. Doors open for the online event on September 8th, but because you’re a subscriber, you can register early. Look below for more information about the event. I don’t want you to miss out on any of these wonderful, free gifts. Register HERE!
Katana Abbott, CFP®, is a Retirement Coach, founder of the Smart Women Companies, and the host Smart Women Talk Radio with over a million subscribers. For over 30 years, Katana has shown women how to take charge of their life and finances and believes it’s never too early to plan for expected and unexpected events like retirement, encore careers, moving abroad, or preparing for long-term care. She has written several books, created a financial literacy course, and is a popular speaker. Katana has been honored by NAWBO as one of Detroit’s Top 10 Business Women, receiving the Breakthrough Award.
To download her new retirement guide, Three Smart Strategies to Maximize Your Retirement Income. visit www.katanaabbott.com