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Cary Carbonaro, financial planner and author of The Money Queen's Guide, has two major pieces of advice for women in their sixties who are retiring or about to retire.

In a perfect world, if you're a woman in your sixties, you have enough money saved up to fund your retirement, and then some. In that case, says Carbonaro, it's important to have conversations with your children about what that money means to you, and what you would want it to be used for after your death. This conversation may be a difficult one to start, since talking about money is still taboo in many families, but it's a conversation you should have.

If you're in your sixties, you should also re-evaluate your investments and consider reducing your risk by changing your mix of stocks and bonds. You need that money to last for your lifetime.