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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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Experience Matters

 

Featured Team Member

Barbara Watkins

Barbara is a metro Atlanta native with over twenty-five years of experience in tax and public accounting. She specializes in bookkeeping, financial reporting, payroll tax, income tax preparation, and IRS problem solving and solutions.

M. Scott McHugh

Founder and president M. Scott McHugh has spent over twenty-five years expanding his tax and accounting knowledge. Building off of the foundation of his Bachelor of Business Administration from GSU, Scott went on to earn the titles of...

Dawn Hamer

Dawn covers a wide range of consulting, accounting and tax services to a variety of clients. Dawn holds a Bachelor of Fine Arts Degree from Florida Atlantic University and Masters of Business Administration in Accounting from Brenau...

Jennifer Shoplak

Jennifer is pursuing her Bachelor’s degree in Accounting and Finance at Southern New Hampshire University. With Part III & I of the Special Enrollment Exam completed she plans to become an Enrolled Agent before the end of 2014. She...

Diane Palmer

Diane has over twenty five years of diverse experience in the fields of accounting and consulting. After earning her M.B.A. from West Virginia University, Diane lent her talents to a variety of firms across the United States and was...

Scott Oliver

Scott has over three years of experience in individual, corporate, trust, and partnership taxation. Scott received his Bachelor’s degree in Accounting from Auburn University and later obtained his Master of Accountancy from Kennesaw...

 

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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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McHugh CPA Group, Inc.
Office: (770) 449-0285
Fax: (770) 449-1710

5550 Triangle Parkway
Suite 200
Peachtree Corners, GA 30092

contactus@mchughcpagroup.com

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