Saturday 25 April 2015

Eurozone hopes Greek criticism will bear fruit-Pan Pylas and David Keyton


Greek Finance Minister Yanis Varoufakis speaks at the Informal Meeting of Ministers for Economic and Financial Affairs of the European Union in Riga, Latvia on Friday, April 24, 2015. Greece's finance minister came under fire Friday from his peers in the 19-country eurozone for failing to come up with a comprehensive list of economic reforms that are needed if the country is to get vital loans to avoid going bankrupt. (Dmitris Sulzics/F64 Photo Agency via AP)
RIGA, Latvia (AP) — Greece's European creditors expressed the hope Saturday that the criticism the country's finance minister faced over his failure to present an economic reform plan on time will prompt a positive response soon.

In the Latvian capital of Riga, the eurozone's top official, Jeroen Dijsselbloem, said he hopes "some extra urgency" will be injected into the process following the "critical" meeting of the eurozone's 19 finance ministers the day before. Greece's Yanis Varoufakis was rebuked for failing to come up with a list of economic reforms.
"But it is going to take a couple of days at least," Dijsselbloem said.
Just two months ago, Greece secured an agreement from the eurozone to get the remaining money in its bailout fund — 7.2 billion euros ($7.7 billion) — but only if it came up with a mutually agreed set of reforms.
But with days to go, Athens has yet to present a full list, prompting Friday's criticism of Varoufakis and the effective abandonment of the deadline. His peers spoke of being "tired" and "annoyed" with the way the talks are going.
On Saturday, as they arrived for talks with their non-euro partners in the 28-country European Union, finance ministers sought to downplay talk of a Greek debt default and the country's exit from the euro.
"Yesterday, we spoke of an A plan, of 'the' plan, because there is no plan B, C, D, or E," said French Finance Minister Michel Sapin. "There is only one plan, and that's Greece in the euro, Greece in Europe."
Though acknowledging the "anxiety" among his peers, Greece's Varoufakis has sought to portray the discussions in a more positive light, noting progress on issues such as privatization, reforming the tax system, the judiciary, the bureaucracy and product markets.
Varoufakis said the main sticking points related to pensions and the level of the budget surplus Athens has to post after debt and interest payments are stripped out — a higher level would effectively mean the government has less money to spend on its priorities.
All sides agree that the clock is ticking. The next possible date for a deal could be May 11, when eurozone finance ministers will meet next and just one day before Greece owes a big payment to the IMF.
"We should move faster, because time is running out, financial difficulties are there as well as the commitments made," said Pierre Moscovici, the European Union's top economic official.
Greece has relied on 240 billion euros in bailout loans since May 2010 after it was effectively locked out of international bond markets amid concerns it was insolvent.
In return for the cash, successive governments have had to make savage spending cuts and economic reforms. But while the measures have focused on improving public finances, they have also hurt the economy and caused unemployment to skyrocket.
The current government was elected in January on a promise to end such so-called austerity. Its focus is on fighting corruption, reforming the public sector, and improving the porous tax system.
The prevailing view in markets is that a deal will be reached in time to avoid a Greek debt default, but only when the pressure on the country becomes unbearable — for example, when the government is out of money to pay its debts or the banks start seeing deposits running dry due to withdrawals by worried savers.
The decision this week by the Greek government to scrape together spare cash from municipalities and state enterprises like hospitals and the national gallery is likely to buy some time. The move — which Greek lawmakers formally approved in a vote late Friday — could, according to independent estimates, rake in 2 billion euros ($2.14 billion), which would cover its debt payments in May.

Culled from AP

Friday 24 April 2015

6 fast-growing jobs that don't pay much-By Christine DiGangi


Movers
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Low-wage jobs employ close to half of the U.S. workforce (42%), and they're poised to employ millions more Americans over the next several years. As calls for a higher minimum wage grow louder from workers in the fast food and retail industries, it's worth looking at exactly who these people are, how many of them there are and how much they make.
The National Employment Law Project, a wage-advocacy group, released a report this month called "The Growing Movement for $15," in which it analyzes the effects of low wages on those who earn them. Some of the largest occupations with workers earning a median wage of $15 an hour or less, six of the fields are among those projected to see the greatest growth by 2022, according to 2012 data from the Bureau of Labor Statistics, the most recent available.
Personal Care Aides
Number of people employed in 2012: 1.19 million
Projected occupation growth from 2012 to 2022: 580,800 jobs (up 48.8%)
Median hourly wage (2014 National Employment Law Profect estimate): $10.35
Share of workers making less than $15 an hour (2014 NELP estimate): 77.9%
Nursing Assistants
Number of people employed in 2012: 1.48 million
Projected occupation growth from 2012 to 2022: 312,200 jobs (up 21.1%)
Median hourly wage: $12
Share of workers making less than $15 an hour: 72%
Janitors & Cleaners, Except Maids & Housekeepers
Number of people employed in 2012: 2.32 million
Projected occupation growth from 2012 to 2022: 280,000 jobs (up 12.1%)
Median hourly wage: $10.80
Share of workers making less than $15 an hour: 75.2%
Materials — Shipping, Movers & Packers
Number of people employed in 2012: 2.20 million:
Projected occupation growth from 2012 to 2022: 241,900 jobs (up 11%)
Median hourly wage: $14
Share of workers making less than $15 an hour: 54.9%
Combined Food Preparation & Serving Workers, Including Fast Food
Number of people employed in 2012: 2.97 million
Projected occupation growth from 2012 to 2022: 421,900 jobs (up 14.2%)
Median hourly wage: $9
Share of workers making less than $15 an hour: 88.3%
Retail Salespeople
Number of people employed in 2012: 4.45 million
Projected occupation growth from 2012 to 2022: 434,700 jobs (up 9.8%)
Median hourly wage: $12.65
Share of workers making less than $15 an hour: 58.1%
While income has no direct bearing on a consumer's credit standing, a low wage can make it difficult for people to pay bills on time, keeping their credit reports free of collection accounts or other negatives, like high credit card balances or delinquent loans. For consumers already in debt, managing day-to-day expenses in addition to paying down outstanding balances can be even more challenging, leaving those consumers with poor credit for years. No matter how much you make, it's important to carefully budget for expenses and make a plan in order to build or rebuild your credit standing and reap the benefits that come with it — of course, that's easier said than done, particularly for low-income consumers. (You can see how your debts and your payment history affect your credit by getting your credit scores, which you can do for free on Credit.com.)

Culled from credit.com

Thursday 23 April 2015

Ericsson sees China growth, slow U.S. as first-quarter profit lags



Ericsson's flag is seen at the company's headquarters in Stockholm
Ericsson's flag is seen at the company's headquarters in Stockholm March 11, 2015. REUTERS/Jonas …
STOCKHOLM (Reuters) - Mobile telecom equipment maker Ericsson said it expected sales in its key North American market to stay sluggish while China would see continued network rollouts as it posted first-quarter operating profit below expectations on Thursday.
Ericsson said surging data traffic would mean a further need for upgrades of networks in North America, where rollouts of the latest generation of 4G/LTE networks are largely done and spending at telecom operators has shifted to capacity upgrades.
"However, with current visibility, we anticipate the fast pace of 4G deployments in Mainland China to continue and the North American mobile broadband business to remain slow in the short term," Ericsson said in a statement.
Profits where weighed down by a larger share of lower-margin network rollouts in China while the share of more profitable software-based capacity upgrades in North America declined.
Operating profit was 2.1 billion Swedish crowns ($A 311 million) compared to 2.6 billion in the year-ago quarter and below a mean forecast of 3.3 billion crowns in a Reuters poll of analysts.
Revenue at its networks unit, which accounts for just over half of its sales, fell 9 percent on a like-for-like basis after a 7 percent drop in the fourth quarter.
Sales at Ericsson, the world number one mobile network equipment maker, were 53.5 billion crowns, in line with a forecast of 53.2 billion. The gross margin was 35.4 percent against a mean forecast of 37.1 percent.
(Reporting by Sven Nordenstam and Olof Swahnberg; editing Alistair Scrutton)

Culled from Reuters

Wednesday 22 April 2015

Americans are deluded about when they will retire-By Mandi Woodruff


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Americans may be feeling more confident than ever about their chances of securing a comfortable retirement, but there’s one thing we are seriously delusional about: when we will finally call it quits.
There’s a big gap between when workers expect they will retire and when people who’ve actually retired say they left the workforce, according to the latest retirement confidence survey from the Employee Benefit Research Institute. Half of retirees say they retire earlier than they planned.
Fewer than one in 10 workers say they expect to retire before age 60, when in fact 36% of retirees say they stopped working before 60. Comparatively, only 29% of workers retired between the ages of 60 and 64 and only 9% retired at the traditional age of 65. The odds of making it until age 70 and still working — which more than one-quarter of workers say they want to do — are even slimmer. A mere 6% manage to last that long.
“Most retirees retired earlier than they planned predominantly due to health problems,” says Luke Vandermillen, vice president of the Principal Financial Group, a co-sponsor of the study. “All you can do is try to control what you have planned, how you have saved, and whether you’ve taken steps to prepare for retirement as best you can.”
What’s clear is that the vast majority of premature retirees did not leave work because they wanted to. Sixty percent of premature retirees cited health issues or a disability as the reason. Others had little choice in the matter — their company downsized or closed, leaving them out of a job (27%), or they needed to care for a spouse or family member (22%).
When people THINK they will retire...
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Source: The Employee Benefit Research Institute
Source: The Employee Benefit Research Institute
When retirees say they ACTUALLY retired: 
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Source: The Employee Benefit Research Institute
Source: The Employee Benefit Research Institute
Stats like these don’t exactly jibe with the retirement narrative that emerged in the years following the Great Recession. The general prescription for older workers whose nest eggs were damaged by the financial crisis was simply to lower work longer and do more with less. Nearly 70% of workers say they plan on continuing to work part-time to keep money coming in after they retire. But in reality, only 23% of today’s retirees report working for pay in retirement.
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The expectation gap is more unsettling when you consider why people are so keen on dragging out their working years. Although nearly all retirees who are working in retirement say they do so because they enjoy it, more than half admitted they needed the extra cash to make ends meet. And about 40% said their savings and investments had taken a dive.
There can be real financial consequences for workers who underestimate their retirement age — they may not save enough to last them through their golden years.
“Retirees who retire earlier than planned are more likely than those who retire when expected or later to say they are not confident about having enough money for a comfortable retirement,” the report says, “or about paying for basic expenses, medical expenses, and long-term care expenses
The silver lining
This year’s EBRI survey wasn’t all bad news for retirees. Workers today are feeling more confident about their odds of securing a comfortable retirement than they have in years.
Twenty-two percent of workers report being very confident about retirement, up from 13% in 2013, and nearly as high as the rate among workers before the recession hit. And nearly half of workers (48%) are taking proactive steps to calculate how much they need to save for retirement now in order to be prepared later, up from 44% in 2014.
You don’t need to hire a pricey financial planner to get your number. EBRI offers a free retirement savings tool, as well as Bankrate, the AARP, and Kiplinger.
Unsurprisingly, it is these workers who have taken steps to prepare for retirement — contributing to a 401(k) or IRA — who are more likely to be confident, EBRI found.
“These people get to see their retirement accounts growing and they’re the ones who have taken more active steps than those who don’t have access [to] or haven’t chosen to fund an IRA,” Vandermillen says.

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Source: The Employee Benefit Research Institute
Source: The Employee Benefit Research Institute
Workers who have some kind of a retirement plan set up are 10 times as likely to have saved $100,000 or more than those who don’t have one, EBRI found. In fact, the vast majority of people without a dedicated retirement savings account have less than $1,000 saved.
“If you don’t’ have access to a plan, it becomes harder to go out and access one on your own,” he says. “But if you have one and you automate it, set it and forget it, you are much more likely to start accumulating savings.”  

Culled rrom yahoo finance

Tuesday 21 April 2015

An alarming new way to steal your passwords-By Rick Newman


Women on bench using phones
Source: Thinkstock
 
At a restaurant, you pull out your phone to check email. Without even thinking about it, you tap in a PIN to unlock your phone. Your back’s to the wall and nobody can see what you’re typing, so there’s no reason to worry that somebody could intercept your passcode.
Except, sadly, there is. Researchers at Syracuse University have demonstrated that hackers can guess PINs by analyzing video of people tapping on their smartphone screens -- even when the screen itself isn’t visible. Software used to analyze such video relies on “spatio-temporal dynamics” to gauge the distance from the fingers to the phone’s screen, and then approximate which characters the fingers tap on a keypad. “It’s like lip reading,” says Vir Phoha, an engineering and computer science professor at Syracuse and co-author of a paper on the technology. “Based on hand movement and the known geometry of the phone, we can see which keys are pressed.”
There don’t appear to be any known instances of hackers stealing PINs this way, but technologists think it’s only a matter of time. “We believe that it is very likely to be adopted by adversaries who seek to stealthily steal sensitive private information,” Phoha and three others Syracuse researchers wrote in their paper, published last year by the Association for Computing Machinery. The technology is fairly simple for anybody familiar with programming, and the exploding use of smartphones provides many millions of targets.
On top of that, the increased use of phones for banking and managing other financial accounts makes PINs a lucrative prize for hackers. And the same video-analysis technology can be used to infer PINs punched into ATMs, smart locks on the front doors of homes, garage door openers and other gizmos requiring similar codes.
Used by the good guys, too

Publicizing such black-hat technology through articles such as this one can obviously tip fraudsters to possible new methods of ripping people off. Security experts and some of their criminal foes already know about it, however, since such research has been published in technical journals. So Yahoo Finance decided it’s appropriate to alert consumers to this new form of hacking. National security and law enforcement agencies could also use it to keep track of bad guys; DARPA, the Pentagon’s technology skunk works, for instance, partly funded the Syracuse research.
The Syracuse experiments involved 50 volunteers typing PINs into HTC One smartphones, in a variety of different settings and postures. For each volunteer, researchers shot four different videos. The recordings were made using two off-the-shelf devices: a Google Nexus 5 smartphone camera and a Sony camcorder. All the videos were shot from the side or back of the phone, from 12 to 15 feet away. None of the videos captured the phone screen or explicitly showed what users were typing.
Software filled in the gaps, however, with a combination of image analysis and motion tracking algorithms being remarkably effective at “guessing” the PINs users typed in. On the first guess, software determined the correct password between 40% and 62% of the time, depending on the quality of the video and the zoom ratio. The highest-quality video produced an 82% accuracy rate after 5 guesses and 94% accuracy after 10 guesses. Using more than one video for each phone raises the odds of success even further. 
“We can do it in about 30 minutes once we capture the video,” says Phoha. “We have almost 100% accuracy.” This graph lays out the results of computer guesswork for video shot using the Nexus smartphone and the Sony camcorder at zoom levels of 2x, 4x and 6x:
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Sources: Diksha Shukla, Rajesh Kumar, Abdul Serwadda and Vir V. Phoha of Syracuse University; Association for Computing Machinery
Sources: Diksha Shukla, Rajesh Kumar, Abdul Serwadda and Vir V. Phoha of Syracuse University; Association for Computing …
Hackers could shoot the necessary video without phone users ever noticing, especially in busy settings such as a bar, restaurant, bus, train, airport or shopping mall. Thieves have long nabbed people’s credit card numbers or ATM PINs by “shoulder snooping” during a transaction, or even looking on from a distance with binoculars or a camera with a zoom lens. So in a way, hacking via video—which can be done surreptitiously on a smartphone while the perpetrator appears to be harmlessly tapping on the screen—is nothing more than a new variation on an old theme.
There are still several additional steps hackers would have to take to steal or vandalize with a captured PIN. For starters, they’d have to crack into separate bank or financial accounts. They might be able to do that by stealing the phone, logging in with the hacked PIN and opening apps that aren’t password protected because the user assumed the smartphone PIN was protection enough.
Hackers could also glean additional information about targeted individuals, like email addresses and account numbers, and use those to log into accounts. If acquaintances or work colleagues were the target, some of that information might already be available. Since hackers already have partial information on millions of consumers, a smartphone PIN could be a crucial missing piece -- especially if it doubles as a passcode for other accounts.

They'll eventually get lucky enough
The odds of any one person getting digitally robbed in this fashion are low, but hackers would probably get lucky often enough to make it worth the trouble, since a lot of people use the same PIN for multiple accounts and devices. On top of that, the same technology used to crack 4- to 7-digit smartphone PINs could be refined to decode longer passwords such as those often required for computer access.
There are limits to such image-analysis technology. It’s harder to detect PINs when people type them with two fingers rather than one, for example. The use of a full keyboard instead of a 10-character phone-style keypad makes it harder still, as does the use of capital letters and symbols that aren’t on a 10-character pad. And fingerprint validation in lieu of a PIN solves the whole problem, even though it’s available on only a small portion of smartphones at the moment, and not at all on ATMs and other gadgets requiring PINS.
As always, countermeasures will ensue if unseen PIN hacking were to grow into a major problem. Smartphone makers could create keypads that appear in different locations on the screen every time, foiling pattern-recognition algorithms that rely on consistent spatio-temporal dynamics. Keypads that jumble the 10 numerals in a different random order during each use might also do the trick, though they could also drive users crazy and encourage them to ditch the passcode because it’s too much trouble.
Meanwhile, protecting yourself against sneaky PIN hacking wouldn’t be difficult, once you know what to do. Keeping your phone completely out of sight when entering a PIN or other sensitive data is the most obvious step. Newer iPhone and Android devices allow you to choose a longer, more complex alphanumeric passcode over a simple 4-digit one (although typing it in can be a pain). And practicing good security—by using two-factor authentication, password-tracking apps and so on—helps improve security and speed the notification time if somebody has infiltrated your accounts. It’s probably safe to assume somebody is always watching. Sooner or later, they will be.

Culled from Yahoo Finance

Survey: Who's feeling good about their finances?-By Chris Kahn

    Looking up
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    Americans continue to feel better about many aspects of their personal finances when compared with a year ago, according to a monthly reading from Bankrate.
    Bankrate's Financial Security Index remained in positive territory in April with a score of 102. Any index reading above 100 indicates improved financial security over the past 12 months.
    The survey that accompanied the index showed that people felt better about their job security, debt levels, net worth and overall financial situation when compared with how they felt a year ago. Savings levels continue to be a weakness, however. The size of one's nest egg continues to be a concern for many Americans, though the difference between those who were more comfortable and less comfortable with their savings was within the survey's margin of error.
    The Financial Security Index has shown improvement for 11 months in a row, though April's reading was slightly below previous measurements in the first quarter of 2015. "The feelings on job security, net worth and overall financial security weren't as strong as last month, following a disappointingly weak jobs report and a choppy stock market," says Greg McBride, CFA, Bankrate's chief financial analyst.
    The Financial Security Index is based on a telephone survey conducted by Princeton Survey Research Associates International. The survey was taken from April 1 to 4 with 1,000 adults living in the continental U.S. It has a margin of error of plus or minus 3.6 percentage points.
    Are you more inclined to invest in the stock market with interest rates on savings accounts and CDs still so low, or not?

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    Highlights:
    • The more educated people are, the greater their interest in investing. Among college graduates, 35% were more inclined to invest; only 11% of those who never attended college responded the same way.
    • The bigger the salary people make, the greater their interest in investing. One-third of those who made $75,000 or more were more inclined to invest, compared with 11% of those who made under $30,000.
    • Men were more interested in investing: 24% of men said they'd be more inclined to invest, compared with 17% of women.

    How do you feel about your job security compared with 12 months ago?
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    Highlights:
    • Regionally, 31% of people living in the South said they were more secure about their jobs -- about twice the rate of their counterparts in the Northeast and Midwest.
    • 34% of Democrats said they were more secure about their jobs, compared with 18% of Republicans.
    • Seniors (those at least 65 years old) were five times as likely to say they felt less secure about their jobs than the youngest group in the survey (people between 18 and 29 years old).

    How do you feel about the amount of money you have in savings compared with 12 months ago?
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    Highlights:
    • The higher the education level, the more likely people are to say they're comfortable with their savings.
    • People earning at least $50,000 a year were twice as likely to say they're more comfortable with their savings as people who made less than $30,000 a year.
    • Urban and suburban dwellers were almost twice as likely as people living in rural areas to say they're more comfortable with their savings.

    How do you feel about the amount of debt you have compared with 12 months ago?
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    Highlights:
    • Full-time workers were almost twice as likely as people who don't have jobs to say they were more comfortable with their debt.
    • Among those who graduated college, 30% said they were more comfortable with their debt, compared with 19% of people who never attended college.
    • 28% of those who live in the Midwest said they were more comfortable with their debt, compared with 16% of people from the Northeast.

    Please think about your net worth, or your total assets, including any real estate equity, minus your debts. Compared with 12 months ago, is your net worth:
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    Highlights:
    • People with full-time jobs were more than twice as likely as unemployed workers to report a higher net worth.
    • Those with the highest incomes were nearly four times as likely as those with the lowest incomes to say they have a higher net worth.
    • Republicans were nearly twice as likely as Democrats to say they have a lower net worth.

    Compared with 12 months ago, do you feel your overall financial situation is:
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    Highlights:
    • Among college grads, 36% said their financial situation is better today, compared with 25% of those who never graduated college and 21% of those who never attended college.
    • People making less than $30,000 were twice as likely as people making $75,000 or more to say their financial situation is worse today.
    • Among those living in urban areas, 32% said their situation is better today, compared with 21% of those living in rural areas.
    Editor's note: Percentages may not equal 100, due to rounding.

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    Culled from Bankrate.com

Monday 20 April 2015

6 Retirement Planning Rules for Single Women-Megan Elliott


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We’ve told you before about some of the ways that single people get screwed over financially, including having to spend more on health insurance and taxes. Now, let’s talk about how being single – specifically, a single woman – affects your retirement prospects.
Women are already at a disadvantage when it comes to saving for retirement. They tend to earn less money, take more time away from the workforce to care for family members, are less likely to have access to retirement benefits, and live longer than men (in the U.S., life expectancy for men is roughly 76; for women, it’s 81, according to the CDC).
 
 
 
Single women are in an even worse spot. They can’t count on a spouse’s income to help shore up their retirement savings or net them more in Social Security benefits. They’re more likely to be shouldering all of their housing costs both while they’re working and in retirement. And they may have fewer people they can count on to help them out in their old age. It’s hardly a surprise that 44% of single women (and 51% of those who are widowed or divorced) say they are behind on their retirement planning, according to a Prudential survey.
None of that means that the 55 million single women over the age of 18 in the U.S. will never be able to retire. Hardly. But it does meant that women who aren’t married should take extra care in planning for their financial future, whether they never plan to get hitched, are divorced or widowed, or are still holding out for Mr. or Mrs. Right.
Here are six rules for single women to keep in mind when planning for retirement.
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1. Save early and often

Procrastination is deadly when it comes to retirement planning. That’s doubly true for single women, who must fund their post-work life entirely on their own. Women should start saving for retirement as soon as they start working, even if it’s only a small amount of money to start. “Save early,” said Melissa Motz, a wealth adviser and president of Motz Wealth Management, in an interview. “Put retirement savings right up there with housing and food as far as a priority.”
Once you start saving, keep at it, and don’t plunder those accounts when other expenses arise. “Make a commitment to save money each year specifically for retirement in separate accounts that aren’t touched for other expenses,” Cathy Curtis, CFP, of Curtis Financial Planning told The Cheat Sheet.

2. Get educated

Knowledge is power. Yet just 7% of women surveyed by Prudential Financial gave themselves an “A” grade when it came to their knowledge of investing. That lack of confidence can translate into a less secure retirement.
“Women who tend to know little about investments tend to err on the side of being conservative,” says Motz. “You will most likely live a long time and this money will need to grow. That means allocate at least 60% to equities if you are in your 50s and 80% if you are younger.”
Getting good advice can help a woman make smarter investing decisions and increase her overall retirement confidence. Sixty-three percent of women who’ve received financial advice feel that they are saving enough for retirement, compared to 45% of those who had never talked to an adviser, according to a survey by TIAA-CREF.
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3. Put yourself first

Too many women end up sacrificing their financial security to help their loved ones. That’s an especially dangerous move for single women, who may be providing care to aging parents or raising children on their own. Those are important responsibilities, but if she always put other people’s needs first, she may end up nearing retirement age with little in savings and no back-up plan.
Knowing where to draw the line is key. “Do not — I repeat, do not — save for your children’s college before you save for your retirement,” says Motz. “Children can borrow money for college. You cannot borrow money for retirement.”
Motz also cautions single women against falling into the trap of supporting family members who make poor financial decisions. Her advice when a deadbeat brother or spendthrift niece comes begging for a loan? “I recommend an honest, ‘I love you’ and ‘no.’”

 4. Consider long-term-care needs

Women live longer and are more likely to spend time in a nursing home than men. Yet many aren’t prepared to cover the steep costs of long-term care, which can top $90,000 per year for some services, according to a survey by Genworth.
Long-term care insurance, which will cover things like nursing home stays and home care, can help people manage the costs, though single women will often pay more for coverage than men, according the American Association for Long-Term Care Insurance. If traditional LTC insurance is out of reach, look into other options, such as self-funding (in other words, covering all costs out of your own pocket), “hybrid” policies that combine features of life insurance, long-term care coverage, and annuities.
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5. Don’t neglect legal issues

Unmarried women need to take extra steps to protect themselves in the event they can no longer make financial or medical decisions themselves.
“The fate of [a single person’s] medical care and estate could fall into the hands of a distant relative or stranger appointed by the state as their guardian,” attorney Peter Klenk warned in a blog post.
To prevent that from happening, single women can take steps like assigning durable powers of attorney for both health and finances. These legal documents ensure that medical and financial decisions are made by someone you trust, not a distant relative or court-appointed guardian.

6. Know that it’s not too late

Women who have put off saving, or those whose financial lives were derailed by divorce or a spouse’s death, may feel that retirement is just a pipe dream. While it’s true that building a sizable nest egg gets harder as you get older, that doesn’t mean that women should give up.
As a financial planner, Curtis says one of the biggest mistakes she sees single women make is to do nothing at all. Sometimes a woman is paralyzed and can’t take any action, “even though she knows that she isn’t on track financially for retirement,” she explains.
But even those who are late to the retirement savings game can take steps to enjoy a more secure future. Planning to work longer, cutting discretionary spending, and even exploring Golden Girls-style living arrangements can all be ways for single women who are behind in their savings to get back on track for retirement.

Culled from wallstrretcheatsheet