Save for Retirement with Confidence

Five proactive steps women can take to help boost their financial security in retirement.

Today, one in four women is the primary breadwinner in their household. They're also better educated than ever before and are more likely than men to have earned a bachelor's degree by age 29.1

So why do women feel less confident than men about their ability to save enough for retirement?2 Women face certain financial headwinds that can make it difficult for them to save sufficiently for the future. For example, they have longer life expectancies. They also generally earn less, on average, than men over the course of their careers.3

But even with these and other challenges, there are proactive steps women (and, for that matter, men) can take to boost their retirement prospects and gain ground. Here are five steps:

1. Set Your Sights. Think about the kind of retirement you want and start setting some goals. Identify the age at which you would like to retire, where you would like to retire, whether you plan on downsizing your residence or staying put, and how much money you will need to have the life you envision.

2. Put Yourself First. Women often place other saving and spending needs ahead of their own retirement. No matter what you earn or how tight money may seem right now, consider contributing as much as you can to your retirement plan at work. That way your money will have more time to grow and compound free of taxes for your future.

3. Get Down to Basics. Learn basic investing concepts, such as risk tolerance, time horizon, diversification and asset allocation. Reading about investing and retirement can strengthen your knowledge base and give you confidence to make sound choices for your future.

4. Maximize Social Security. Social Security will likely play an important role in helping you to meet your income needs in retirement. Make sure you understand how your benefits (and those of your spouse, if any) can grow depending on how long you work and when you decide to retire.

5. Think Big Picture. Your retirement may last 25 years or more. An age-appropriate asset allocation may help you to keep pace with rising prices over time.

Take advantage of our personal, one-on-one assistance by contacting your local Mutual of America Regional Office representative today.


U.S. Department of Labor. March 2017.


"2018 Retirement Confidence Survey," Employee Benefit Research Institute/Greenwald & Associates, April 2018.


Bureau of Labor Statistics. January 2016.

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Mutual of America's group and individual retirement products are variable annuity contracts and are suitable for long-term investing, particularly for retirement savings. The value of a variable annuity contract will fluctuate depending on the performance of the Separate Account investment funds you choose. Upon redemption, you could receive more or less than the principal amount invested. A variable annuity contract provides no additional tax-deferred treatment of benefits beyond the treatment provided to any qualified retirement plan or IRA by applicable tax law. You should carefully consider a variable annuity contract's other features before making a decision.

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