Statistics show that women are far more likely than men to work in jobs without retirement plans or to have periods of time where they work only part-time.

Financial experts say that while women may often bear a heavier load when it comes to daily domestic responsibilities, they’re far less likely to have saved the money they need to retire comfortably. What does a woman need to know about saving for retirement?

“Daily life is overwhelming – errands that need to be run, people who need to be taken care of. Why do I need to think right now about retirement?”

According to the US Department of Labor, a woman at age 65 can expect to live another 20 years. Saving now can increase the chances of having enough money to last through retirement.

“Isn’t that what Social Security is for?”

While politicians debate the future of the Social Security program, one fact is clear: there is enough money to pay benefits in the currently scheduled amounts only to 2041. Even in the best situation, Social Security won’t provide you enough money to live on in your later years. You need to make other plans for your future.

“I don’t have much extra money to save. How do I budget?”

Look for unnecessary small expenses and put those dollars aside regularly. Consider automatic withdrawal, which puts money into a savings account or annuity, giving you no chance to see and spend those dollars.

“What’s an annuity? How can that help me save?”

Annuities earn interest on the premium invested, so funds can be later distributed to you in an income stream. An annuity can be a great tool to help you save for retirement, with interest rates that are often far better than standard savings accounts or CDs.

Agents with Graber and Associates can help you find an annuity that will meet your needs now and pay off in your retirement years.

Don’t put off thinking about retirement. If you take the time now to do something, you’ll be glad you did.