You know what amazes me? That my local bank staff have never, not once, asked me if I’m saving for retirement. They don’t even offer information about their savings products. It’s a bank—aren’t they supposed to want me to save?
I did some research and found that most banks hold to the philosophy that if we want information we’ll ask for it. Yeah right!
What gives them that impression? Our widely fluctuating savings rates should be a HUGE red flag that we WANT help!
I have the same problem when I go to Victoria’s Secret. I know I need to be fitted for a new bra, but I hate asking. It’s embarrassing. Like I really want to admit, I am 49-years-old and I don’t know what bra size I should be wearing.
Are you asking for help? Do you know what “account size” you’ll need for a comfortable retirement? The fact is that we don’t have strong financial educations in this country. We don’t know what we need, and we’re too embarrassed or uncomfortable to ask for help.
Three years ago, I finally did seek out some financial advice. Turns out, my retirement savings wouldn’t “fit” at all. I immediately started taking action to correct the problem. You can do the same.
You know, studies show that 80% of women are wearing the wrong bra size. That can lead to headaches, restricted breathing and chronic pain.
But here’s another number for you: 76% of women over the age of 60 say they do not feel financially secure enough to retire. That sort of financial instability can lead to headaches, restricted breathing, and chronic pain. (Yes, really, I meant to repeat that!)
Why are we all walking around so unprepared? It’s time to man up (figuratively speaking, of course) and ask for help.
Pick up the phone and set an appointment with a financial advisor. Ask your friends for recommendations or schedule an appointment with your bank. After all, a little knowledge now can save you a lot of pain later on.
Jayne Black, Mrs. Wisconsin Galaxy 2012 - Founder of Saving Smart for Five Generations, International Women's Finance Coach, Professional Speaker, Writer, "Fellow" at the Wisconsin Women's Policy Institute