Keeping physically fit is always important, but as we age, it becomes even more imperative to maintaining quality of life. According to personal finance expert and Next Avenue contributor Kerry Hannon, the same is true for financial fitness.
Hannon stresses the importance of “financial fitness” for women, and especially for female members of the baby boomer generation, who are now entering their fifties and beyond. “Women have been part of the workforce more in this generation than before,” Hannon says, they are also likely to stay in the workforce longer. The full retirement age for Social Security has risen from 65 to 67, and, according to Transamerica Center for Retirement Studies’ “Fifteen Facts About Women’s Retirement Outlook,” 57 percent of women plan to retire after age 65 or not at all.
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