By Craig Erwin, Ph.D.
Many women find it difficult to retire when they want. Some find it hard to retire at all. Why? There are many reasons. Women tend to make less money than men and to have far less wealth (assets such as cash, stocks, bonds, and real estate). Women make 79 cents for every dollar men make, which puts women at a disadvantage in saving for retirement. Women also live longer than men and the longer you live, the more money it takes. That’s why it helps to put off retirement as long as possible. The fewer years you spend in retirement, the less money you need to save for retirement. Women are also more likely to work part-time than men. Working part-time almost always means lower pay and no employer-sponsored retirement savings plan.
Married women tend to rely heavily on their spouses to manage the family’s finances and to plan for retirement. Having to manage the finances is a big challenge for women who lose their spouses to divorce or death.
Women tend to put others’ needs (e.g., children’s, parent’s, spouse’s) ahead of their own. They may help children pay for college instead of saving for their own retirement. It is also common for married women to put their husbands’ careers ahead of their own, interrupting their own careers to have children or provide care to an aging parent. It is a great challenge for women to keep their careers on track, given the career disruptions they may face. A woman may work part-time after the birth of a child, but this also affects her career, resulting in lower pay and the loss of her retirement savings plan.
Medical expenses are sky-high for all of us, but they are highest for women. Women also tend to live longer, so they are likely to need to cover medical expenses for more years in retirement than men.
Finally, divorce can be very expensive for women. If a woman and her husband divorce before they have been married ten years, she will not be able to draw social security benefits on her ex-husband’s record. But divorce is costly in other ways. In a divorce a women can abruptly lose half of her assets as well as the security and regularity of her husband’s paychecks.
So, you see, life is terribly expensive for women.
Have you quit a job or taken leave for childbirth or another reason? Are you concerned that you may not be able to retire in a timely or comfortable manner? Which living expenses are you most worried about covering after retirement?
For more information on the costs and challenges women face, click on the following links:
I’m really loving the theme/design of your weblog.
Do you ever run into any internet browser compatibility issues?
A couple of my blog readers have complained about my website not working correctly in Explorer but looks great in Firefox.
Do you have any ideas to help fix this issue?
Write more, thats all I have to say. Literally, it
seems as though you relied on the video to make your point.
You obviously know what youre talking about, why throw away your intelligence on just posting videos to your blog
when you could be giving us something informative
to read?
Definitely believe that which you stated. Your favorite justification seemed to be at the net
the easiest factor to remember of. I say to you, I certainly get irked at the
same time as other folks think about concerns that they just do not recognise about.
You controlled to hit the nail upon the highest as
smartly as outlined out the entire thing without having side-effects
, people can take a signal. Will likely be again to get
more. Thank you
I love reading through an article that will make men and women think.
Also, thanks for allowing for me to comment!
Hello, Neat post. There’s a problem along with your site in internet explorer, may test this?
IE nonetheless is the market leader and a big section of other people will pass over your wonderful writing because of this problem.
Excellent way of explaining, and nice paragraph to take
facts on the topic of my presentation subject matter, which i am going to convey
in academy.
Wow, amazing weblog format! How long have you ever been blogging for?
you made running a blog look easy. The entire glance of your website is fantastic,
let alone the content material!
Hello there, I discovered your site by way of Google whilst looking for a related subject,
your site came up, it seems to be good. I’ve bookmarked
it in my google bookmarks.
Hello there, simply turned into aware of your
blog thru Google, and located that it’s truly informative.
I am going to watch out for brussels. I’ll be grateful should you continue this in future.
Many other people shall be benefited out of
your writing. Cheers!
I think the admin of this web page is in fact working hard for his website, for the reason that here every
material is quality based information.
Your style is so unique compared to other people I’ve read stuff from.
Thanks for posting when you’ve got the opportunity, Guess
I’ll just book mark this page.
Paragraph writing is also a excitement, if you be familiar with afterward you can write otherwise it
is complex to write.
You’re so cool! I do not suppose I have read something like this before.
So good to discover another person with some original thoughts on this topic.
Really.. thanks for starting this up. This website is something that’s needed on the web, someone
with a little originality!
magnificent put up, very informative. I wonder why the opposite specialists of this sector do not realize this.
You should proceed your writing. I am confident, you
have a huge readers’ base already!
whoah this weblog is fantastic i like reading your posts.
Stay up the great work! You realize, a lot of people
are looking round for this info, you could aid them greatly.
This article is truly a nice one it helps new web viewers, who are wishing for blogging.
Hi there, after reading this awesome piece of writing i am too happy to share my familiarity here with colleagues.
Hi colleagues, how is all, and what you would like to say about this post, in my
view its really remarkable for me.
Thanks for the good writeup. It if truth be told was
a enjoyment account it. Glance complicated to more delivered
agreeable from you! However, how can we keep in touch?
It is not my first time to pay a visit this website,
i am browsing this site dailly and obtain pleasant data from
here everyday.
You need to be a part of a contest for one of the most useful blogs
on the web. I’m going to highly recommend this blog!
Excellent blog here! Also your site loads up fast!
What host are you using? Can I get your affiliate link to your host?
I wish my web site loaded up as fast as yours lol
If some one wants to be updated with hottest technologies after that he must be go to see this web site and
be up to date every day.
I do not even understand how I stopped up here,
however I thought this submit was once great. I do not realize who you’re however
definitely you are going to a famous blogger for those who aren’t
already. Cheers!
Do you mind if I quote a couple of your posts as long as I provide credit and sources
back to your site? My website is in the very same niche as yours and my visitors would truly benefit from
some of the information you provide here.
Please let me know if this alright with you.
Thank you!
Howdy would you mind sharing which blog platform you’re using?
I’m going to start my own blog in the near future but I’m having a hard time making
a decision between BlogEngine/Wordpress/B2evolution and Drupal.
The reason I ask is because your design seems different then most blogs
and I’m looking for something unique. P.S Sorry
for getting off-topic but I had to ask!