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Retirement planning is an important part of your financial future, and women should be especially mindful as they approach their thirties. There are a variety of ways to prepare for retirement, so here’s a list of the top strategies women over thirty should consider: 

Consider an Employer-Sponsored Retirement Plan

Many employers offer tax-deferred retirement accounts, such as a 401(k) or 403(b). Contributing to an employer plan is one of the best ways to save for retirement because there are usually matching contributions from your employer, and there are income tax incentives.

Start Saving Early

The earlier you start saving for retirement, the better off you’ll be. Compound interest makes a bigger difference when there is more time for it to work its magic. Aim to put away at least 10% of your income each year and try to increase that amount annually.

Create a Budget

A budget can help you put aside money for retirement while still living life in the present. By tracking your spending, you can identify areas where you can save to contribute more towards retirement.

Downsize Your Home

Selling your home and downsizing can help you free up cash that can be used for retirement planning. It’s important to factor in any costs associated with purchasing and selling a home, as well as any tax implications such as capital gains taxes. 

Research Investment Options

There are many different types of investments that could be suitable for retirement planning. Educate yourself on the benefits and drawbacks of each type, like stocks, bonds, real estate investment trusts (REITs), and exchange-traded funds (ETFs). 

Invest in Index Funds

Index funds are a good option for diversifying your investments without having to actively manage them yourself. They track an index such as the S&P 500 and provide broad exposure to many different companies across various industries. 

Contribute to a Roth IRA

A Roth IRA is an individual retirement account that allows you to invest after-tax dollars and take withdrawals tax-free at retirement. It’s important to note, though, that contributions are subject to income limits and must be made with earned income. 

Take Advantage of Catch-Up Contributions

Individuals over 50 can contribute an additional $6,500 in catch-up contributions toward their 401(k) or IRA. This is a great way to maximize savings in the later years. 

Take Social Security Strategically

When it comes to social security, there’s no one-size-fits-all solution. If possible, try to delay taking social security until age 70 in order to maximize the benefits you receive each month. 

Seek Professional Advice

Retirement planning can be complex and may require specialized knowledge. Consider working with a financial advisor to develop a plan that meets your individual needs. 

If you’re a woman in her thirties, it’s important to start thinking about and preparing for retirement now. With consistent effort and dedication, you can achieve your goals and enjoy life after work. 

Talk to our financial advisors

At Independent Financial Services we have professionals who can guide investment strategies, tax-efficient savings options, and retirement income planning. By working with one of our professionals, women can feel confident they are making informed decisions about their financial future. 

Get in touch with us today to enjoy a comfortable and secure retirement experience!


Opinions expressed in the attached article are those of the author and are not necessarily those of Raymond James. All opinions are as of this date and are subject to change without notice. Material provided by Redfern Media, an independent third party. Raymond James is not affiliated with Redfern Media.