Retirement Plan Solutions for Women with Risky Retirement Outlook

Retirement plan solutions to promote risk reduction for women and to retire on a comfortable lifestyle

retirement plan solutions

retirement plan solutions

Though there are several retirement plan solutions provided for workers and self-employed individuals, many women still find it difficult to imagine a comfortable retirement. The latest survey made by Transamerica Center for Retirement Studies shows that merely 7% of women are confident that they could totally retire with a comfortable lifestyle. As many as 52% women plan to continue working during retirement. Some of the primary reasons behind that thought process involve lower incomes, parenting responsibilities etc.

Based on the survey, they made a study and specified some steps on how to improve this outlook. One of the steps is to obtain education about retirement investing. Not a lot of women know about qualified retirement plans and the different features offered by these plans. For women who want to achieve risk reduction on their retirement investments, one of the best retirement plan solutions is to set up a Solo 401k plan. This plan lets them choose the type of investment they want to put their money in, starting with real estate, notes, precious metals, and even startup businesses.

With diversified investment options at their disposal, these women can gain better returns on their investment. While investment freedom allows plan holders to achieve higher returns, expert consultation is advised before making any investments. Aside from various investment options, account holders of Solo 401k plan also serve as the trustee of their account, which allows them to administer their account. Solo 401k allows a plan holder to contribute up to $57,500 annually, making it a much better retirement option in terms of contribution limits.

The Transamerica Center for Retirement Studies discussed another approach for retirement planning, starting with the creation of a retirement strategy that targets the individual retirement goals of the plans owners and setting a contribution goal, allowing them to achieve their retirement account targets.