The Math Of Being A Woman: How To Beat The Gender Retirement Gap
March 5, 2019 by Kristen Billows
March is National Women’s History Month, which honors the many significant contributions women have made to our country. These include impressive steps women have taken toward achieving full equality that began well before the passage of the 19th Amendment in 1920 and continues today.
The financial services industry is uniquely positioned to support women in one of the key areas where they continue to lack equality. It’s time for our industry to help bridge the gender retirement gap once and for all so women have every opportunity to secure their financial futures.
As it stands, the focus on saving for retirement is more relevant than ever for both genders, especially as baby boomers steadily continue to leave the U.S. workforce. For many, the accompanying uncertainty is daunting. Retirees don’t know what to expect or what retiring comfortably means. Among other factors, rising health care costs and longer lifespans already jeopardize many retirees’ savings.
Along with these hurdles, women face an additional set of gender-specific challenges that have led to a continuing disparity in their financial readiness for retirement compared to men.
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