Savings: Set loftier goals

Earning less takes a heavy toll over the course of a career: Although women contribute to their 401(k) at nearly the same rate as men, they end up with nest eggs that are a third smaller, according to a study by MassMutual.

The only sure remedy is to pump up your savings rate. The standard advice is to save 10% of your income, but women should aim for 12.5%, says Miami financial adviser Cathy Pareto.


To make the bite less painful, boost your contributions in small, steady increments and time the step-ups to your annual raise.

Source: CNN.com
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