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Women & Retirement
The Michigan Office of Retirement Services (ORS) and Voya Financial are partners on a yearlong focus on women and retirement.
The campaign centers on the importance of women actively engaging in planning for their retirement. After months of planning, gathering, and studying trends and statistics, we identified some tips and strategies to encourage women to actively prepare and save for their retirement.
It's important for everyone to plan for their future, but it is especially important for women. Some reasons why preparedness matters:
- Women may enter the workforce later than men.
- Women are more likely to take time off to care for elderly parents or to raise children.
- Women tend to live longer than men.
- On average, women spend more years in retirement than men.
While this campaign is geared toward women, the principles of achieving big goals by taking a series of small steps are relevant to everyone. We encourage you to follow us on Facebook and Twitter and to share this site with others in your life you think would benefit from these messages.
Watch for emails, articles, information, and social media posts with advice on how to be better prepared for retirement and the small steps women can take now to advance their retirement goals.
Remember, retirement is a journey; we are here to help you along yours.
Women and Retirement resources
Deciding your retirement age
Saver's tax credit
Retirement planning for women
Discuss your financial options
Wrap-up: Five things you should do
Five things you should do
For the past year ORS and Voya have been sharing information and resources designed to help women better prepare for retirement. While education is an important first step, the next steps in your retirement journey are even more important – taking action.
Now we are asking you to set aside time to do the following:
- Create a budget.
- Make sure you are meeting your State of Michigan employer match.
- Run a Social Security estimate.
- Attend a Voya-hosted webinar related to your retirement goals.
- Book a 1-on-1 appointment with a Voya advisor to discuss your retirement plan.
We hope the information we have shared here has helped empower you in navigating your retirement journey. Remember, small steps taken today will help your big plans happen.