By: Donna M. Phelan, MBA
A group of women united with a cause can do anything. Look at Girl Scouts. Those moms are the most efficient, earth-moving, mountain climbing, teen-motivating people on Earth. Who else would pack up four SUV’s full of teenagers with camping supplies and take off for a weekend in the wilderness? And then repeat that exercise or a similar one, again and again for years, forging characters in the process?
It is time now for women to rally to their own cause – retirement security! I predict this will be the number one economic issue facing women in the coming decades. Women deserve retirement peace of mind. Did you know that women in their eighties are the population group second most at risk, after children, of living in poverty?
Women need to come together to combine their strengths and skills to generate income for retirement. Women need to create SISTERS – Stackable Income Streams to Empower Retirement Security. Women need to establish several stackable income streams for retirement, because one income stream may dry up, like employment income or child support. Women need to gather together to use all their moxie to protect themselves from hardship and create financial security in retirement.
How? By starting a SISTERS Club. A SISTERS Club is a group of women united together to support each other in creating retirement income security. It is like a bridge club or a book club, but instead of playing bridge or discussing books, women create small businesses to enrich their retirement. No matter how old you are, you are not too old to create retirement income. You will live twenty to forty years in retirement, and you will always need income.
Why should you start a SISTERS club? If you are like the average woman, you will need more income for retirement. You have worked a lifetime earning far less than your male counterparts. You have spent your time and money taking care of kids and aging parents. Like most women, you have put yourself last in order of priority. Consequently, you have much less in savings than you will need to get you through retirement. It is imperative that you start now to create a SISTERS club to figure out how to create income for retirement.
What do you need to start a SISTERS club? You need a place to meet, a few friends, a pad of paper and an idea. Pick those friends with whom you are compatible, and who share your work ethic and enthusiasm. Then go to www.donnamphelan.com and register your SISTERS club. There you will find resources to help you learn how to start a SISTERS club. You will learn how to start a business and can download templates for writing a business plan. You will also find a SISTERS tab, where you can share your story and successes.
