On top of everything else, there is also the income disparity for women in the United States, where women are earning 37% less per year than men. With all these factors, it’s easy to understand both why women find challenges in retirement saving and why these challenges might seem, at first, insurmountable.
No woman wants to end up a “bag lady” – impoverished, out of options, left to fend for herself on the streets. Only a tiny percentage of women from affluent households will experience this retirement nightmare, but that does not mean the risk should be dismissed.
A gap in some aspects of financial literacy was also notable. Just 67% of pre-retiree women responded that they had a general knowledge of investment classes compared to 84% of their male peers.
Suggestions to accelerate & maintain the pace of the effort. Numerous articles have mentioned the obstacles women can face as they save for retirement. Turning from the negative, here are some positive factors that [...]