Robin Katz, a 49-year-old graphic designer who owns her own business, lives paycheck to paycheck because of health challenges that have depleted her personal savings, the lack of an employer-provided retirement plan, and the uncertainties of inconsistent income flow because of her line of work. Women like Robin are not uncommon. In fact, did you know that of the 59 million women who earn a salary in this country less than half (47 percent) of them have a retirement plan, or that elderly women are more likely to live in poverty than elderly men? "I really do not save any money," said Katz. "Between health insurance payments which go up every year, and mortgage payments I basically live paycheck to paycheck."
As dismal as these statistics sound, women can start now saving for their future according to a brand-new site, the Women's Bureau's WiseUp program. Charged with helping women become more financially independent, the Women's Bureau WiseUp program provides online calculators, money management basics, credit education, saving basics, insurance and risk management, and tools on how to invest.
The Women's Bureau WiseUp program has also teamed up with the AARP and the Illinois State Treasurer to foster an online dialogue about saving money and aids women in becoming more financially savvy. "Women generously invest their time, energy and money in their jobs, families and homes," said Illinois State Treasurer Alexi Giannoulias. "
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