Alert
Close

Top the Trizzle leaderboard by 5 p.m. Friday to win a $100 gift card! Learn more

Most
Popular

Viewed

Decide. Create. Share.

Case Study: Financial Planning

Mary Cruz, 56, from Chula Vista, CA, has money for the basics, but will she have enough to travel?

Mary Cruz

— Photo: Dave Lauridsen/Illustration by Jon Valk

En español | Mary Cruz, 56, didn't worry about retirement until 10 years ago when she divorced, at age 46. Prior to that, her ex-husband had done the financial planning for both of them.

"It never occurred to me that I might be single when I was older," she says.

See also: Marta Miranda's profile on home and community planning.

She'll have a pension, Social Security and a 401(k) when she retires from the Sharp Chula Vista Medical Center, where she's program manager for community and multicultural relations, a job that relates to the Mexican side of her family.

She expects her retirement income will cover the basics but wants money to travel and do things with her family. She knows her financial situation is better than most working single women, but she still worries. When she divorced, she took the middle-of-the-road approach to investing: neither conservative nor risky. Back then, retirement was 20 years away. Now she wonders if she should take a second look at her investments. Are they enough?

"It's time for me to start taking care of myself financially," she says.

She'd like to have a clearer plan, especially for investing the proceeds of her 401(k) account after she retires. "Should I manage it all myself?"

You may also like: The AARP Financial Freedom Campaign.

Topic Alerts

You can get weekly email alerts on the topics below. Just click “Follow.”

Manage Alerts

Processing

Please wait...

progress bar, please wait

Tell Us WhatYou Think

Please leave your comment below.

Caregiving
Resource Center

Find tools, work sheets and tips on how to plan, prepare and succeed as a caregiver. Select a Caregiving Resource Center topic from the drop-down menu below.

Discounts & Benefits

From companies that meet the high standards of service and quality set by AARP.

Prescription medication spilling out of bottle

Members get a free Rx discount card from AARP® Prescription Discounts provided by Catamaran.

Woman trying on glasses in optometrists shop

Members save up to 60% on eye exams from Sears Optical.

membership schwanns discount

Members get double Schwan’s rewards on all online orders from Schwan's Home Service™.

Caregiving walking

Caregiving can be a lonely journey, but AARP offers resources that can help.