As a woman, you have much bigger concerns than a man does! There are many reasons behind this. As a woman you are likely to:
- Live longer
- Collect lower retirement benefits, and
- Incur higher medical costs than a man.
These are some of the biggest contributing factors to why many women, just like you, are likely to run out of savings during retirement!
Did you know?
• The average Social Security benefits of retired women were 22% less than the average benefits of men, in 2012 [1]
• A woman who reaches the age of 65 can on average expect to live until the age of 86. [2]
• Many women live well into their 90’s! Women over 65 are over 30% more likely than men to depend exclusively on Social Security for all of their retirement income [3]
• The social security trust funds could be exhausted by 2033 and unable to pay full benefits [3]
• Widowed women over 65, are twice as likely to live in poverty, as compared to men in the same situation [3]
• Women are more than twice as likely to be widowed after the age of 70 than men are [4]
• Never married women are almost three times as likely to live below the poverty line in retirement [3]
As a woman, are you ready to deal with the unique retirement problems you face?
Really, ask yourself that question!
If your answer is “I don’t know,” then take advantage of our Community Education Center! Click here to access and download our valuable resources! Click here to be a part of our VIP list and get invited to our events and workshops!
[1] Social Security Administration. “Number receiving benefits and average monthly amount, by sex of beneficiary.” (http://ssa.gov/cgi-bin/currentpay.cgi)
[2] Social Security Administration. “Calculators: Life Expectancy.” (http://www.ssa.gov/planners/lifeexpectancy.htm)
[3] U.S. Government Accountability Office. 2012. “Retirement Security: Women Still Face Challenges.” Publication No. GAO-12-699. (http://www.aging.senate.gov/events/hr250gao.pdf)
[4] U.S Census Bureau. May 2011. “Number, Timing and Duration of Marriages and Divorces: 2009.” (http://www.census.gov/prod/2011pubs/p70-125.pdf)