Women Investors - Let Tax Time Spark a Bigger Discussion

Remember that old nursery rhyme where the cat ate the rat that ate the malt that lay in the house that Jack built? Some things are innately connected – like the cat and Jack, and like your taxes and your retirement.

Since funding your IRA may impact your taxes this year, tax time leads to thinking about that vision for retirement. Taking it one step further, think about whether your retirement savings are strategically positioned to take you where you want to be in retirement. For a woman, that’s a particularly important question because women have unique considerations for retirement:

  • Women tend to live longer than men, meaning they will have more years to fund in retirement.
  • Almost 90% of women will be solely responsible for their finances at some point in their lives,1 in large part because of longer life expectancies and divorce.
  • Typically, women have spent fewer years in the workforce – having taken time off to care for children – and have less accumulated in their Social Security and retirement plans.

Spark the Discussion
Knowledge is power. When you know where you stand now and where you want to be, you can grab the bull by the horns and take action. Here are some important things to know or to begin finding out about:

  • When do you want to retire?
    When you retire determines how many years you have to save. It’s only when you have a tangible goal in place that you can determine how to get there.
  • How long might your money need to last in retirement?
    Nearly one-third of women will live into their 90s.2 It’s smart to prepare for the longer end of a life expectancy. We can help you look at various options.
  • How can you balance saving for retirement with other goals?
    Step 1 in finding the right balance is identifying and prioritizing your needs and goals – both immediate and long-term. While retirement may seem farther off, time is a very valuable asset. So don’t delay saving for one goal over another – instead, view your goals together.
  • Have you taken steps to manage unexpected events?
    A good investment strategy is built around planning for the expected and preparing for the unexpected. That’s why people have rainy day funds – for unexpected rainy days. Through careful preparation and a well-diversified portfolio, you can be better positioned to weather whatever changes come up in the economy or in your personal situation over the long haul.

Let tax season be the spark that lights an in-depth discussion about your retirement. Here are two steps to take right now:

  1. Learn more about Individual Retirement Plans.
  2. Set up an appointment with your Edward Jones financial advisor, who has the tools, knowledge and commitment to help you prepare for your retirement vision.

Start today with a solid blueprint for “the house that Jill built.”


1 The Allianz Women, Power and Money Study, 2006.

2 Why Do Women Claim Social Security Benefits So Early? Alicia H. Munnell and Mauricio Soto, Center for Retirement Research at Boston College, October 2005, Number 35.

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