28 famous actors with their own production companies (and what each one is called)

Yahoo Financial Video

Women are less confident about retirement planning: BlackRock

A new Read on Retirement report from BlackRock shows that while confidence in retirement savings has increased among Americans, women are more likely to worry about staying on track financially than their male counterparts. Kerry Hannon, senior columnist at Yahoo Finance, talks to Wealth! about the study and shares three of her top tips for saving for retirement. Hannon explains that women feel like they outlive their money. On average, women live about six years longer than men, so they should have a better-funded retirement account. They also tend to stop working at some point in their lives to focus on caring for their children. This can put retirement savings on hold, especially as women still struggle with the wage gap. Finally, women tend to pay higher healthcare costs than men—another factor that eats into money that could be saved for retirement. Her top tip is to save enough. She explains, “If you have an employer-provided retirement plan, try to save enough to meet the employer match, which is usually about 4% to 6% of your salary. So if you can get your total, yours and your employer’s, up to a 15% annual savings rate, that would be great.” Hannon also recommends using retirement calculators to create a general overview and timeline for retirement. Finally, she stresses the importance of looking at your total assets. “That might make you a little better off, because you might have equity in your home, you might have savings outside of your retirement accounts. And of course, hopefully, if all goes well, you still have your Social Security. So it’s not all a loss, but there are other ways to build your confidence by looking at the bigger picture,” she says. For more expert insights and the latest market activity, click here to watch this full episode of Wealth! This post was written by Melanie Riehl.