Women face unique challenges when it comes to retirement readiness, and 60% fear they will outlive their savings. Creating and maintaining an investment strategy is essential, but many women shy away from the task. Working with a financial advisor can help bolster confidence and knowledge. Advisors face challenges, however, since many women are reluctant to talk about financial issue. Only 28% of women feel confident in the ability to select the right financial investments. An age-based investing approach is simple, and a good place to start. Target date retirement funds have become a staple in retirement accounts, especially among young investors. These funds allow investors to choose one mutual fund based on their age and expected retirement date. As the time until retirement narrows, the target date fund rebalances from more aggressive investments to more conservative options. If an appropriate target date fund is not available, creating an investment strategy that mimics the age-based approach is relatively simple. The key to target date investing is adjusting risk based on time horizon. Younger employees have more time before they plan to retire, which means they can take bigger risks now.

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