Many women are the primary breadwinner in their house but yet just a few are confident in their ability to fully retire with a lifestyle of their comfort.
When it comes to retirement, women may even leave their future to chance.
The reason behind difference is not lack of education or independence. In fact more than men, women go to colleges and graduate. So why are they away from taking charge of their long-term financial picture?
It may be due to lack of confidence. Only a few women say that they are confident enough when they talk about money and finances with advisors and professionals.
Women may step back from discussing about retirement as they feel that they shall appear uneducated or naïve and hence hesitates to ask questions.
Facts of women and retirement-
Women are almost twice as likely as men to live below the poverty line during retirement
Women make less money during their working years
Women receive significantly lower retirement benefits than men
Women are living longer than men
Women who are single, divorced, and widowed face a higher risk of poverty in retirement
Women save less
More women than men are engaged in financial wellness education
Social Security and pension are not enough
Now is the time for all the women to plan for their retirement. Consider talking to a professional about your retirement goals.
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