St. Mary's University Financial Wisdom for Women Session

1. Planning for retirement: What women should know

2. Today’s agenda
 What retirement means
 Considerations and
challenges
 Retirement realities
 Wisdom for all ages

3. What does retirement
mean to you?

4. Picture your retirement
Where will
you live?
What do you
want to do?
What makes
you happy?
How will you
stay busy?
Have you
shared your
plans?

5. Your retirement, your way
 Volunteer
 Travel
 Go back to school
 Work part-time
 Start a new career
 Spend more time with
loved ones

6. C0nsiderations and
challenges

7. Women are a powerful
force
More women than men:
 Are in in management and
professional occupations1
 Start more businesses2
 Are enrolled in college3
 Have more master’s degrees3
 Make majority of household
and consumer spending
decisions4
1Bureau of Labor Statistics, Women in the Labor Force: A Databook (2012
Edition).
2David Bach, Women & Retirement: Investing for the Life You Want, June,
2011.
3American Council on Education, Gender Equity in Higher Education: 2010.
4Wells Fargo Women and Retirement Research Study, 2011.

8. Children/
grandchildren
Work
Spouse/
partner
Financial
concerns
Parents
Health
concerns
What’s on your plate?

9.  Half of older Americans expect
to support aging parents and
adult children1
 Typical Sandwich Generation
member is a 48-year-old
woman2
 Women leave the workforce
for an average of 12 years to
care for children or parents3
1SunAmerica Financial Group and Age Wave, Retirement Re-Set Study, 2011.
2American Association of Retired Persons, The Sandwich Generation: You
are not alone, June 28, 2012.
3U.S.News & World Report, The Biggest Retirement Challenges for Women,
August 6, 2012.
Balancing
responsibilities

10. Retirement realities

11. COMPARED TO MEN
 Typically make less
money
 Have significantly less
retirement savings
 Are less likely to have a
pension plan
 Have longer life spans, which
may result in:
 Higher health care
expenses
 Greater chance of
needing long-term care
Retirement is a women’s issue

12. $12,520
Average annual Social
Security benefit
3 in 10
Social Security is
virtually the only
source of income
2.9 million
Living in poverty (more
than twice the number
of men)
Older women and Social Security
1Social Security Administration, Social Security is Important to Women, March 2014.
2NWLC, Insecure and Unequal: Poverty and Income Among Women and Families, 2000-2013 (September 2014).

13. How much have you saved?
Employee Benefit Research Institute, 2014 Retirement Confidence Survey.
The majority say they
could reasonably save
$25 more per week for
retirement.
$25,000$250,000
62%
Most working
women estimate
they will need at
least…
But most workers
have saved less
than...

14. How much will you need?
Income
replacement
ratio
80%

15. 15
Start with your
retirement plan

16. Your plan can help you build financial strength
You may contribute:
• Up to $18,000
• Additional $6,000 if you are 50 or older
Limit does not include employer contributions
Plan may have lower limits
You may be eligible for Saver’s Credit

17. Know your retirement savings goal

18. Learn your investor style by taking a quiz
Risk profiles/Risk quizzes are intended to provide a general indication of your current investment profile and do not constitute investment advice. There may be
other factors specific to your situation that are not considered. Your investment risk tolerance may change over time, and you should revisit your situation from time
to time to determine if a selected portfolio is still appropriate for your situation.
These asset allocation models are based on generally accepted investment theories that take into account historic returns of asset classes over defined periods of
time. These models are intended to provide you with general information that may be helpful as you consider your investment options. They are in no way intended
to offer advice about which investments to choose or how much to allocate to any particular investment option in the plan. When applying the models to your own
situation, you should consider your other income, assets, and investments (e.g., savings accounts, equity in a home, IRA and other retirement investments).

19. Stay in touch with your plan
Visit your plan’s
website
Call our
retirement
service
representatives
Use online
resources and
tools

20. Wisdom for all ages

21. Establish healthy habits
Build an emergency fund
Reduce debt
Create a budget
Consider opening a Roth IRA to save even more
Work toward saving at least 10% of your income
Enroll in your retirement plan at work
Determine retirement savings goal
20s
30s

22. Stay on track
Reduce debt
Create/update will and related estate documents
Review your insurance needs
Review your asset allocation and rebalance as needed
Contribute to your IRA
Increase your contributions
Review your retirement income goal
40s

23. Focus on what lies ahead
Review and update your retirement plan
Make catch-up contributions to retirement accounts
Review your asset allocation
Consolidate your retirement accounts
Have a plan for withdrawing savings
Forecast what your expenses will be in retirement
Review your insurance coverage
Review wills and estate documents
50s
60s

24. Knowledge is power
Beyond TodaySM wellsfargo.com/beyondtoday Provides women with
financial perspective at every
stage in their lives. Also
includes age-related articles,
tools, and checklists.
Women's Institute for
a Secure Retirement
wiserwomen.org Dedicated to the education
and advocacy that will
improve long-term financial
quality of life for women.
AARP’s Decide.
Create. Share.SM
aarp.org/decide Helps women take steps
today so they will be
adequately prepared for a
safe, healthy and secure
tomorrow.
Links to third-party sites are provided for your convenience only. Wells Fargo neither endorses, monitors, nor guarantees the accuracy of
information of third-party websites. Third-party websites may not follow the same privacy, security, or accessibility standards as Wells Fargo's
website. Wells Fargo is not responsible for the security, content, or availability of third-party websites or any reliance thereon.

25. Get help with your
decisions
Partner with a financial
professional, who can:
– Help create an action plan
– Discuss options for reaching
your goals
– Help with contingency plans
– Evaluate investment
approaches
– Review your goals regularly

26. Take charge
Decide what
you want to
do
Be involved and stay involved
Develop a
plan to make
it happen
Don’t be
afraid of
investing
Plan for
contingencies

27. Thank you
Recordkeeping, trustee and/or custody services are provided by Wells Fargo Institutional Retirement and Trust, a business unit of Wells Fargo
Bank, N.A. This information and any information provided by employees and representatives of Wells Fargo Bank N.A. and its affiliates is
intended to constitute investment education under U.S. Department of Labor guidance and does not constitute “investment advice” under the
Employee Retirement Income Security Act of 1974. Neither Wells Fargo nor any of its affiliates, including employees and representatives, may
provide “investment advice” to any participant or beneficiary regarding the investment of assets in an employer sponsored retirement plan.
Please contact an investment, financial, tax, or legal advisor regarding your specific needs and situation. Diversification and asset allocation do
not assure or guarantee better performance and cannot eliminate the risk of investment losses.
©2015 Wells Fargo Bank, N.A. All rights reserved. 3-15