Retirement planning for the stay at home mom

Retirement Planning For The Stay-AT-Home Mom

When you first plan on staying home with your children, probably the first thing you do is take a look and see if you can afford it. You cut back on cable TV, buy older cars, lose retirement benefits

Whoops! Most moms don't seem to be thinking about what being a stay-at-home mom does for her retirement package. The years spent not working have a huge impact, however, when you decide to retire, so you need to plan now.

Let's start by looking at what you're losing for yo...

stay at home mom, retirement planning

When you first plan on staying home with your children, probably the first thing you do is take a look and see if you can afford it. You cut back on cable TV, buy older cars, lose retirement benefits

Whoops! Most moms don't seem to be thinking about what being a stay-at-home mom does for her retirement package. The years spent not working have a huge impact, however, when you decide to retire, so you need to plan now.

Let's start by looking at what you're losing for your retirement. No 401(k) with your employer contributing towards it. No pension, although those are getting scarce in most jobs anyhow. Less money available to put towards retirement. You aren't putting money into Social Security, so your benefits will be lower.

Ouch. Being a stay-at-home mom means you lose a lot for your retirement. Socially, the stay-at-home mom, as you may already know, is not as valued by most or by our government as the working mother. Fortunately, there are steps you can take to prepare for your own retirement. It m

 

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