For those who believe money is money, whether you are male or female, The New Working Woman's Guide to Retirement Planning shows why saving for retirement is different-and difficult-for women. Martha Priddy Patterson offers practical advice and usable solutions to the retirement planning obstacles women have to overcome.
Although women are gaining equal pension coverage with men and women's wages are ever slowly increasing, the need for retirement saving and planning, for both women and men, has never been greater. Through her professional and personal experiences, Patterson-an attorney who has spent 15 years specializing in employee benefits law-found that women were not paying attention to their financial retirement future. Case studies of four women at different stages of their lives, with a variety of careers and career patterns, demonstrate how retirement benefits grow-or disappear.
This new edition contains current up-to-the-minute information on new retirement planning options such as Roth IRAs, cash balance plans, SIMPLE plans, enhanced coverage of 401(k) plans, and the future of Social Security.
Martha Priddy Patterson is Director of Employee Benefits Policy and Analysis for KPMG's Compensation and Benefits Practice.
PART I. UNDERSTANDING THE BASICS 1. Why Retirement Planning is Different for Women 2. Retirement Benefit Growth: Alice, Susan, Bonnie, and Jennifer 3. Basics of Retirement Savings and Planning 4. Basic Retirement Benefit Buzzwords 5. The Employee Retirement Income Security Act (ERISA) 6. How Taxes Affect Retirement Planning and Retirement Income PART II. SOURCES OF RETIREMENT 7. Employer-Provided Retirement Plans 8. Social Security and Medicare 9. Your Individual Savings PART III. HOW MUCH TO SAVE AND INVEST 10. The Role of Benefits in Taking or Leaving a Job 11. How Much Do You Need for Retirement? 12. Becoming Familiar with Investment Vehicles 13. How to Invest Wisely for Retirement PART IV. LIFE PHASES AND RETIREMENT 14. How Marriage Affects Your Retirement Benefits 15. How Divorce Can Affect Your Retirement Planning 16. If You Are Near Retirement 17. Life in Retirement