Manage your money like a woman
Women typically earn less yet live longer than men, which suggests they need a different financial plan. Here are 13 strategies to ensure a comfortable retirement
Earnings: Negotiate for more
Men are four times more likely than women to initiate salary negotiations, and when women do try to make a deal, they typically ask for -- and get --; about 30% less, according to Carnegie Mellon economist Linda Babcock. Compare what you're making to the averages in your field.
Even in today's tough job market, it's okay to press for an increase if you're a valued employee and you have solid evidence that you should earn more. A $5,000 raise on a $75,000 annual salary will yield an extra $187,000 over 25 years, calculates financial planner Eleanor Blayney, author of "Women's Worth." That in turn will facilitate higher 401(k) contributions and produce bigger Social Security benefits.
NEXT: Assets: Value your life
Last updated November 05 2010: 11:13 AM ET
