MetLife Bank(R) Offers Tips and Free Materials to Help Women Save and Plan for the Future

"Today's women often try to do it all: running a household, caringfor a family, and working full or part time jobs--with precious littletime to think about the present, much less the future. However, womenowe it to themselves to adequately plan for the future," said DonnaDeMaio, president of MetLife Bank.

DeMaio recommends that women try to set aside just one hour amonth to plan for the future. "Even if you think you don't have time,you need to make planning a priority," said DeMaio. "By consideringthe options that are available, you can gain greater peace of mind andleave yourself in a better position to meet your goals."

When assessing one's options to save for the future, DeMaiosuggests the following to get on track:

1. First, pay off debt. For those who have incurred a significantdebt burden, it may be wisest to pay off credit cards first. The highinterest rates that most cards carry can greatly impede one's abilityto save.

2. Make home ownership work for you. Home ownership gives a personaccess to home equity, lines of credit, and (potentially) reversemortgages. The good news is, according to a study released in 2006 bythe Joint Center for Housing Studies at Harvard University, homeownership among women increased by 50 percent in the last eight years,making them the second largest demographic group of home buyers,behind married couples.

3. Establish a Savings Plan. Even if you need to start small bysaving just ten or twenty dollars a month, the key is getting started.Many financial institutions will automatically transfer a certainamount to your savings each month.

-- Consider Money Market Accounts and CDs. Choose a Money MarketAccount to set aside funds for a rainy day, or to wait until a bettersavings or investment opportunity comes along. Shop around for thebest rate from a company you know and trust. CDs are a good option,too, as they usually earn more interest from savings accounts and theyare low risk thanks to FDIC insurance. Plus, they can be laddered tomaximize returns. Look for banks that offer consistently highrates--some institutions offer short-term promotional rates which maydrop significantly after a few months. Also, consider direct banks,which typically offer better rates than local "brick and mortar"banks.

4. Make retirement savings a priority. Although there are fewerwomen in the workforce (60% of women versus 73% of men), women, onaverage, live longer lives. To help jump start your retirementsavings, consider the following options:

-- If your employer has a 401K, be sure to invest in it. This issmart money, because it reduces taxable income and funds grow taxdeferred until money is withdrawn. Plus, many companies will match theinvestment up to a certain percentage, essentially giving yourself araise.

-- Think about an IRA. In an IRA, funds and their earnings growtax deferred until you begin withdrawals. If you are age 50 and over,you may also be permitted to make catch-up contributions to your IRAfor years that you did not fully invest. Your annual contribution mayalso be fully or partially deductible, depending on your income leveland whether you are covered by another retirement plan. You may have achoice of investment options for your IRA, including stocks, bonds,mutual funds or CDs. Keep in mind that your money must be in anIRA-approved account and that it must be designated as an IRA. Foradded savings, look for a no-fee IRA. There are different typesavailable that can provide tax benefits, but each IRA type has its ownspecific eligibility criteria and contribution limits. Beforecontributing to an IRA, consider consulting with a tax advisorregarding eligibility to contribute, as well as contribution limits.

-- Look for "guaranteed income" in preparation for retirement.Women are less likely than their male counterparts to have acompany-sponsored pension. According to the U.S. Department of Labor,only 32% of women receive pension

MetLife offers several free brochures as part of its Life Adviceprogram to help people better prepare for the future and understandthe intricacies of investing, including "Building Financial Freedom"and "Investing Basics." Building Financial Freedom provides valuableinformation on how consumers can seize control of their finances andstart planning for the future. Investing Basics serves as a primer oninvestment styles, types of investments, and retirement investmentvehicles. From savings accounts and CDs to bonds and annuities, thisbrochure can help potential investors recognize their investmentstyle, understand the risk/reward relationship and learn aboutdiversifying investments. Both are available for free, by calling1-800-MET-LIFE (1-800-638-5433) or by visitinghttp://metlifebank.com/LifeAdvice.do

MetLife also offers a variety of web-based calculators that canhelp consumers determine the best way to save money and plan forretirement. They are available at www.metlifebank.com. In addition,www.metlife.com has calculators on retirement savings, including aretirement income IQ quiz.

Headquartered in Bridgewater, NJ, MetLife Bank, NA, (Member FDIC),is a nationally chartered bank, and a subsidiary of MetLife, Inc.(NYSE: MET). MetLife, Inc. is a leading provider of insurance andother financial services to millions of individual and institutionalcustomers throughout the United States. Through its subsidiaries andaffiliates, MetLife, Inc. offers life insurance, annuities, automobileand homeowner's insurance and retail banking services to individuals,as well as group insurance, reinsurance and retirement and savingsproducts and services to corporations and other institutions. Outsidethe U.S., the MetLife companies have direct insurance operations inAsia Pacific, Latin America and Europe. For more information, pleasevisit www.metlife.com.

MetLife is the trade name of Metropolitan Life Insurance Company

MetLife Bank, N.A. Member FDIC