5 Challenges Women Face in Retirement

women in retirement

Challenges women face in retirement can be grouped in five categories.
How’s your retirement plan holding up? If you are a woman, you’re probably having more difficulty with retirement plans than your male counterparts.

Despite advances, women still face lower average salaries – 82 percent of the average man’s salary, according to the Pew Research Center.

Fewer working years on average, often due to time off for child care or family responsibilities, adds to the difficulty of earning sufficient income for retirement savings.

Here are five areas that seem to be most challenging for women approaching retirement, according to the recent edition of the Transamerica Retirement Survey of American Workers.

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Long-Term Mortgage Rates Hit a Seven-Year High

mortgage rates

It Will Cost You More to Buy a Home

Long term mortgage interest rates reach seven-year high
The housing market topped a new threshold over the past week. Buoyed by a strong economy and a series of interest rate increases by the Federal Reserve, thirty-year fixed mortgage interest rates reached 4.61 percent – the highest number since May of 2011.

Rates crossed the 4 percent threshold in the week of January 11 and they have been on a relatively steady rise since then. If this pace continues, we may hit 5 percent before the year is out.

Should rising interest rates deter you from buying a home or refinancing? Not necessarily, but it may cause you to re-think your definition of an affordable home.

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The Cape Strikes Back: More Star Wars Swag for the Solo Premiere

star wars swag

Solo: A Star Wars Story premieres tonight, and some theaters are holding fan events before the screening that will include costume contests.

If you’re considering attending — or even if you’re planning to see the movie at the theaters later on — the following list of costumes on Amazon might pique your interest.

You’ll definitely enhance your experience of the flick with the following Star Wars swag.

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3 in 4 Workers Worry About Social Security

New Survey Shows a Bad Combination of Skepticism and Dependence3 of 4 workers are worried about Social Security

Are you counting on Social Security for most of your retirement funds – and if so, how comfortable are you that the funds will be there at retirement?

According to the recent Transamerica Retirement Survey of Workers, you probably aren’t comfortable at all.

A surprising 76 percent of survey respondents are concerned that Social Security won’t be there when they retire – including 65 percent of baby boomers, the generation entering their retirement years.

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Higher Credit Scores Needed For Home Purchases

credit needed to buy a house

Average Homebuyer Score Rose from 700 in 2005 to 732 in 2016

Higher credit scores needed for homebuying in 2018.
Welcome to the 2018 home-buying market: Rising demand and an extremely tight supply of homes, especially in the critical starter-home market, make it difficult to realize your goal of home ownership.

In this market, you’ll need two important things to land your dream home – more money and a higher credit score.

Data from the Joint Center for Housing Studies (JCHS) at Harvard University highlight the credit score issue.

According to the 2017 JCHS study, “The State of the Nation’s Housing – 2017,” the median credit score for successful mortgage loan applications increased from a FICO score of 700 in 2005 to 732 in 2016.

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