Financial State of Baby Boomer Women
By Jim Poolman, Executive Director, Indexed Annuity Leadership Council
A recent story from NBC News reported that Baby Boomer women are one of the least financially prepared population segments in our country right now. According to the AARP, only 10 percent of Boomer women have pensions, and 32 percent have 401ks. What’s more is 40 percent of Baby Boomer women are single and do not want to be dependent on others for financial stability. Many have returned to work … and not by choice.
While starting your retirement savings early in life is ideal, it’s not too late for Baby Boomers to work on a nest egg. Indexed annuities are a perfect example of a retirement product many should consider to help ease the angst of retirement planning and secure guaranteed income for life. With indexed annuities, retirement savings are protected from market losses, providing safety for those growing more risk adverse with age and today’s turbulent economy.