Take Charge of Your Portfolios, Ladies
Robin Wilson’s divorce decimated her retirement savings. Because she had never felt comfortable with her financial advisers, she fired them, took control of her investment portfolio and began rebuilding it. She established a high-interest online bank account, found a brokerage with no trading fees, prioritized paying off credit card debt and dramatically cut back her expenses.
“Each month, I add a small amount to the high-yield savings account, and when the stock market dropped due to COVID-19, I bought on the low,” says Wilson, 50, an entrepreneur in Montclair, N.J. Her goal is a $4 million retirement fund by age 70.
When it comes to investing, too many women learn the hard way that disengaging is a mistake. Women’s retirement-savings needs differ.
