Could Grandmotherhood Affect Retirement?In retirement, there are some lifestyle concerns that may not necessarily affect men. Though the financial aspects of retirement are similar for both genders, you may have seen retired women becoming much more involved in the process of raising children than men, especially in recent years. A report from the National Bureau of Economic Research noted women between 58 and 61 years old who are helping to raise their grandchildren are nearly a third less likely to work full time as those without grandchildren. As a result, during the prime years prior to retirement, some women aren't able to maximize employer-sponsored retirement plan contributions and save enough money to carry themselves into retirement.1 Likewise, this predicament is particularly concerning in relation to times of economic uncertainty. Because recessions are accompanied by high levels of job loss, some grandmothers are having to take a larger role in the upbringing of their grandkids to help out their recently laid-off children.
"Grandmothers typically have years of experience reconciling a work-life balance"
By responding to this offer you may put in touch with a licensed insurance agent regarding retirement income strategies using fixed insurance products. J.D. Mellberg Financial is insurance licensed in all 50 states (AR8771938/ CA0K73712/ TX1908101) and all producers of J.D. Mellberg Financial have the appropriate licenses for the products they offer. *Annuity guarantees rely on the financial strength and claims-paying ability of the issuing insurance company and are not guaranteed by any bank or the FDIC. **Some annuities may have a lifetime income guarantee as part of the base policy; others may have riders available that provide this benefit. Riders may also be available for benefits like an annual increase to help combat inflation or for as much as doubling your income in case of a qualifying health event. These annuities are not long-term care and are not substitute for such coverage. Optional riders may be available with a charge. 1 Lumsdaine, Robin L. and Vermeer, Stephanie J.C. "Retirement Timing of Women and The Role of Care Responsibilities for Grandchildren," page 19. © National Bureau of Economic Research Working Paper Series, December 2014. http://www.nber.org/papers/w20756.pdf 2 "Calculators: Life Expectancy," Social Security Official Website, last accessed 2/6/2015. http://www.ssa.gov/planners/lifeexpectancy.htm If you are unable to access the article(s) referenced above, please call 1-877-805-0151 to request a copy. JDM062018