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Retirement

Women on the Rise

Women on the Rise Conquering: Unique Retirement Challenges. Financial success is a goal for many, but women face unique barriers that can make that goal more difficult to achieve. Understanding today’s financial landscape can help women rise to the challenge, know their worth, and take control of their futures.Daunting Realities Although history has seen some significant progress for women over the last century, there’s still a long way to go toward financial equality. Women make 82.3 cents for every dollar their male counterparts make in a similar job. (1) The average Social Security retired worker benefit for women is $16,496 per year, compared with $20,921 for men. (2) 46% of married women in their 50s in two-income households are at risk of being unable to maintain their standard of living in retirement. 32% of married women in their 50s in one-income households are at risk of being unable to maintain their standard of living in retirement. 40% of single women in their 50s are at risk of being unable to maintain their standard of living in retirement. (3)Enormous Potential The truth is, women wield a huge amount of influence over the economy, and their impact is only likely to grow. Women control 51% of all personal wealth in the United States today. (4) Over the next 40 years, women stand to inherit $28.7 trillion in intergenerational wealth. (5) On average, women save 9% of their salary. That’s almost a full percent higher than men. (6)Increasing Impact The numbers don’t lie: more women are successfully founding and leading businesses than ever, with impressive results. There are 114% more women entrepreneurs than there were 20 years ago. (7) Black women own 42% of new businesses owned by women and 36% of Black-owned employer businesses. (8) Women launch more than 1,200 new businesses every single day in the U.S. (9)Support for the Journey Many women report having strong relationships with their financial professionals. In fact, 70% of women say they would refer their financial rpfessional to a friend or relative. Whatever your financial needs, we're here to help (10). Sources: 1. DOL.gov, 2021; 2. SSA.gov, 2020; 3. Prudential.com, 2019 (latest data available); 4. FA-mag, 2020; 5. Visualcapitalist.com, 2019; 6. Visualcapitalist.com, 2019; 7. WhattoBecome.com, 2021; 8. Forbes.com, October 26, 2020; 9. BusinessNewsDaily.com, 2021; 10. ML.com, 2021
 

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Contact Us

Rob Lewandowski, AIF®
Vice President
Financial Consultant 

Summit Financial Services
100 W Jubal Early Dr.
Winchester, VA 22601
Office: (540) 450-3297
Cell: (540) 535-6236
Fax: (304) 530-0938
Email: rlewandowski@summitfgi.com 

______________________________________________________


Sara Church
Assistant Vice President
Financial Consultant

Summit Financial Services
651 Foxcroft Ave.
Martinsburg, WV 25401
Office: (540) 450-3282
Cell: (304) 707-1967
Fax: (304) 530-0335
Email: schurch@summitfgi.com

______________________________________________________


Jonathan C. Dorsey
Financial Consultant

Summit Financial Services
1826 Harper Rd.
Beckley, WV 25801
Office: 304-254-2972
Cell: 304-763-8587
Fax: 304-530-0962
Email: jdorsey@summitfgi.com

 

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The content is developed from sources believed to be providing accurate information. The information in this material is not intended as tax or legal advice. Please consult legal or tax professionals for specific information regarding your individual situation. Some of this material was developed and produced by FMG Suite to provide information on a topic that may be of interest. FMG Suite is not affiliated with the named representative, broker - dealer, state - or SEC - registered investment advisory firm. The opinions expressed and material provided are for general information, and should not be considered a solicitation for the purchase or sale of any security.

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Securities and advisory services are offered through LPL Financial (LPL), a registered investment advisor and broker/dealer (member FINRA/SIPC). Insurance products are offered through LPL or its licensed affiliates. Summit Community Bank and Summit Financial Services are not registered as a broker/dealer or investment advisor. Registered representatives of LPL offer products and services using the name Summit Financial Services, and may also be employees of Summit Community Bank. These products and services are being offered through LPL or its affiliates, which are separate entities from and not affiliates of Summit Community Bank or Summit Financial Services. Securities and insurance offered through LPL or its affiliates are:

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