My “A-Ha” Moment About Saving For Retirement

This is a sponsored post for SheSpeaks/Prudential. All thoughts and opinions are mine.

My "A-Ha" Moment About Saving For Retirement

I can remember when I was in my twenties, saving for retirement was the last thing on my mind. I mean, retirement seemed like a very distant and unimaginable reality. I became pregnant when I was nineteen and I spent my twenties trying to raise a daughter on my own. At the time, it took all of my concentration to just keep food on the table and make sure that my daughter had clothes and medical care when she needed it.

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Facts About Women And Retirement

When I got married and had more time, I just thought it was all too confusing and I still didn’t plan. These are some common problems among women. We either can’t find the time or we are too overwhelmed with it all to plan for our financial future. Combine that with the fact that women on average live 5-6 years longer than men1 and make only 79% of what they male counterparts make, then we have a real financial challenge on our hands.2

Prudential wants to help us change all that. Prudential has come to realize the problems facing women today in the financial world, and they want to help us all manage and plan so that we have can retire with peace of mind, knowing that we have enough money to make it.

My “A-Ha” Moment About Saving For Retirement

A few months back, it looked as though Jay and I were not going to make it as a couple. This was my “a-ha” moment. You couldn’t imagine the fear that ran through me thinking of how I was going to make it financially. I mean, just trying to make it through the present day was going to be tough enough, let alone thinking about saving for retirement. As a blogger, I know that my income ebbs and flows like the tides. It can be difficult to save money in a situation like that, so I felt that I would have to leave the blogging world and find another job. I hated the very thought of it, but I would have done whatever I had to in order to survive. Fortunately, it did not come to that, but it did make me think.

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Prudential has been a trusted name for as long as I can remember and I think they are qualified to help answer your financial questions and to set you on the right path for your financial future. Don’t wait. This is something that we need to discuss today. I think you owe it to yourselves, ladies, to sit down with a financial professional. You will rest easier once you do.

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Sources:

1. Source: Prudential Retirement analysis; National Center for Health Statistics, Health, United States, 2015: With Special Feature on Racial and Ethnic Health Disparities. Hyattsville, MD. 2016

2. Source: U.S. Census Bureau, Historical Income Tables Table P-40: Women’s Earnings as a Percentage of Men’s Earnings by Race and Hispanic Origin, 2016

About Dawn McAlexander

Dawn is a full time travel and lifestyle blogger. Besides Cheap Is The New Classy, she also owns and writes for Eat Play Rock and State By State Travel. Her interests include traveling, home decor, DIY projects, organizing her home and enjoying a nice cup of coffee {or two}. She currently resides in North Carolina with her husband, Jay, and their fur babies.

Comments

  1. robin rue says:

    My husband is an accountant, so he is in charge of our retirement. He dabbles in stocks, etc, so he knows what he is doing :)

  2. I went to school for personal finance because I once had career ambitions to become a financial planner (I might still pursue it one day) so I love it when I read about personal tales such as yours. I’m glad that you finally realized the importance of planning for retirement. Best of luck with your blogging ventures!

  3. I am still trying to figure out retirement and savings in general. Although I should have started a million years ago with savings, I did get my “a-ha” moment about 5 years ago and now am making progress.

  4. I hate to admit it but I am getting closer to 40 and I probably have nothing invested into retirement. It’s been a hard thing to think about since I’ve been a stay-at-home mom for the past 14 years .

  5. Saving for retirement is something I’ve always worked toward, it’s so important but so many people don’t realize it. My hubby has finally gotten on board with it recently also!

  6. It’s so funny to read this today, because my husband and I were just having this conversation over the weekend. We have a friend who told us they didn’t have anything saved and we were like WHOA….what?! We hope to retire early so it’s always been an important savings goal for us.

  7. Cheap is totally hot and smart! Saving for retirement is so important and that’s why I’ve already started to think about it.

  8. Kristina says:

    Saving for retirement while young is very important because it will be here before we know it.

  9. Saving is so important. We’ve been doing it for quite a while now and now that I am the money maker I plan to put even more away!

  10. I was so fortunate to work for a industry that made us participate in a retirement plan. It is a very good plan, and now that I am retired, I am reaping the benefits. I agree with you, you must have something in place. My mom lives entirely on Social Security, but I don’t think many could.

  11. It’s good to have savings especially when you’re about to retire. It’s nice to have prudential by our side as well.

  12. It really can be overwhelming. Thanks for getting me thinking about it (especially during Tax Season! EK)

  13. I would hate to get to that point too but Prudential does sound like a lovely service and great for those wanting savings for retirement.

  14. I am not working outside of the home at the moment, but my husband already has been setting aside retirement money with the company he works for. It is so important, especially when we are younger, to start saving what we can so we won’t have to struggle when we are older.

  15. This is so interesting to read especially for someone who hasn’t had their aha moment yet! It’s definitely slightly different in the US than it is in the UK but I can still see the importance of it! x

  16. Women need to save and think about retirement as much as men. I do rely on my husband to take the lead with this but I need to get more involved. Those statistics are so important to try and change and get women on equal footing as men.

  17. Saving for a raining day or retirement is so important. It isn’t always easy when you have daily obligations, but it’s important to make it a priority.

  18. Reesa Lewandowski says:

    I have a lot of friends who are not involved financially at all with their families and it worries me. We really need to be in control of our financial futures!

  19. After watching the people around me struggle financially I have always been aware of retirement so thankfully my husband and I started saving since our early 20’s!!

  20. Saving for retirement is so important! Even having a “rainy day” fund or emergency fund is vitale! Thanks for the post.

  21. I haven’t even began to thinking about these things! This article helped start for sure!

  22. It’s amazing how many people just don’t think about their retirement until its practically too late! I can totally see how it can be difficult for women! I don’t know what I would do about money without my husband!

  23. We have not been very good about retirement savings. I think that it is so far off that you easily can slip into “i’ll think about that later.” Which is never a good thing!

  24. I have an IRA but I have not been good about saving for retirement for a long time. My husband has been consistent so at least that’s good.

  25. CourtneyLynne says:

    I will be honestly, I’m sorta clueless on things like retirement! I really should get better at understanding these things since retirement is everyone’s future eventually

  26. Don’t you love those “A-ha!” moments! haha, I definitely can relate to you!

  27. We’ve had some setbacks over the years, and our retirement has taken a couple of major hits because of it, but we still keep plugging away. Every little bit adds up.

  28. Sometimes the idea of being financially independent while married is a tough one to grasp but it does give you so much more peace of mind, knowing that you have control of your money should anything happens. It also makes you very aware of what you do and do not have tucked away for the future. Children have definitely changed my mind and my priorities when it comes to saving for retirement.

  29. I have been definitely feeling the push to start saving for retirement. I think the earlier someone can start, the better!

  30. I’m at the ages where I think about this a lot more often. It’s difficult in this blogging world to stick to any sort of plan, but we have to find a way!

  31. I hate to admit it but I haven’t put much thought at all into retirement. It really is crazy what you said about women living longer but making less. Crazy!

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