Celebrating Women’s History in Henrico

Did you know last fiscal year Henrico County employed 1,988 women? That is just under half of our population. In honor of Women’s History Month this month, we encourage you to take a moment to admire the achievements of women in history, the County, and your life.

If you want to learn more about women in history, Henrico County Public Library employees have shared a list of women who inspire them. You can read their stories, join book discussions, or attend library events.

To learn about the women in our workforce, Public Relations and the office of Multicultural Community Engagement highlighted three female employees and their remarkable achievements. Watch their stories to learn more.

Henrico Happenings – Episode 31 – Sheriff Alisa Gregory

Henrico County Police SWAT Sniper N.C. Elliot

Henrico County Police Officer Heidi Rojas

The Diversity, Equity, and Inclusion Division of the Human Resources Department also offers resources to learn about Women’s History Month on their Holidays, Heritages, and Celebrations page on SharePoint.

Regardless of how you decide to observe the month, we encourage you to start your own conversations and learn more.

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Make A Smooth Transition into Retirement

After years of dreaming and saving, the date of your retirement finally arrives. What are your plans? Will you travel? Will you spend more time with friends and family? Or do you just want to start sleeping in every morning and let each new day take its course? As you consider your next steps, you may want to keep in mind a few things that will ease your transition — at least from the perspective of your retirement finances. For example:

  • Make a spend-down plan — Your retirement income will probably come from various sources — such as retirement accounts, IRAs personal savings and investment accounts, part-time income, Social Security benefits, and pension benefits. The mix is different for everyone. To help minimize your tax burden in retirement, you may want to draw different amounts from different sources at various times. This is sometimes called a “spend-down plan.”
  • Reexamine your expenses — Your spending won’t come to a stop in retirement, but it will probably change. The average retired household cuts its spending by 1.5% to 1.6% per year throughout retirement. But keep in mind that while some expenses may decline, others may increase.1 For example, one study has found that 65-year-old couples will spend an average of $315,000 on healthcare and medical expenses in retirement.2
  • Keep managing risk — Is the mix of risk and return potential in your portfolio appropriate for your age, risk tolerance, and overall financial picture? As a rule of thumb, people shift to more conservative investments as they get older to protect the assets they’ll rely on for retirement income. Another factor to consider is how long you’ll depend on your nest egg for income. After all, your retirement may last decades. Talk to your local retirement plan counselor about whether your post-retirement portfolio is in line with your risk tolerance, income goals, and retirement timeline.

Retirement planning doesn’t end with retirement. You’ll still have to manage the shift from accumulating retirement savings to using those savings for retirement income. With a little planning and regular adjustments, you can make the most of the nest egg you worked so hard to build during your working years.

Questions on how you can make a smooth transition to your retirement years? Schedule some time with Chip Richardson, our Henrico County Retirement Plan Advisor.

1 smartasset.com/retirement/retirement-spending#:~:text=Research%20shows%20that%20average%20retired,of%20wealth%20and%20physical%20health.

2 cnbc.com/2022/05/16/americans-can-expect-to-pay-a-lot-more-for-medical-care-in-retirement.html

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