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AACreditUnion.org | | 11 W hen it comes to planning for retirement, women have a special set of concerns. Not only are they statistically more likely to work in part-time jobs that don't qualify for a retirement plan, they're also more likely than men to interrupt their careers to take care of family members, says the United States Department of Labor. As a result, they work fewer years and contribute less toward their retirement, resulting in lower lifetime savings. This is particularly problematic because women, on average, live longer than men, meaning they need even more money to retire comfortably. With all this in mind, how can women best prepare for retirement? American Airlines Federal Credit Union financial advisor Rosemina Hudani offers five pieces of advice for women looking to take the reins of their retirement: Get a handle on your current situation. Do you know how much you save every month? How many years do you have until retirement? What will it take to maintain your lifestyle in the future? The first step is to sit down and assess all your income, expenses and debts. Calculate your Social Security benefits. Visit socialsecurity.gov and use the Retirement Estimator to get a rough idea of what you can expect in monthly payments once you retire. Hudani recommends checking this on an annual basis. Make (or revisit) your plan. About half of households age 55 and older have no retirement savings, according to a report from the U.S. Government Accountability Office. If this applies to you, now is the time to create a solid retirement plan and start funding it — it's never too early (or too late). "You have to handle it now or later," Hudani says. "Why not get a handle on it now?" Think about your needs and your wants. You need to have enough for living expenses, of course, but don't forget the fun stuff like hobbies, traveling and donating to charities. If you're worried that you don't earn enough to save for anything beyond the basics, consider Hudani's top piece of advice: "It's not how much you make. It's how much you keep of what you make." Get assistance if you need it. Meeting with a financial advisor can be helpful, especially if you feel overwhelmed. "If you don't understand, it's OK — keep asking until you understand," Hudani says. The financial advisors at American Airlines Credit Union are a great complimentary resource, whether you need to create a retirement plan from scratch or just want to be sure you're on the right track. Steer yourself in the right direction with these tips. A WOMAN'S BY HALEY SHAPLEY Road Map to Retiring

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