In the first part of this three-part blog, we talked about why the U.S. demographics of an aging society present more of a challenge for women than for men.
Here are some additional thoughts for your consideration:
In part one, we suggested that the fact that women still tend to outlive men by 3 to 5 years definitely contributes to the financial challenges that women face in retirement.
Here is a chart that supports that information:
The second reason that women face an uneven challenge is because we still experience a disadvantage in the work place. In addition to the fact that women are still more likely than men to leave the workforce intermittently, we also know that women are more likely to hold lower- wage and part-time jobs, both of which are detrimental to funding future retirement.
So what can women do about this? That will be the focus of part three in this series.
If you’ve already read enough, please contact us now. Otherwise, please be sure to read part three.
Barbara A. Culver
CFP®, ChFC®, CLU, AEP®