4 Ways Women Can Win with the SECURE Act
January 29, 2020 by Evan T. Beach
While women have historically done better than men in the stock market by about 0.4% per year, they are undeniably in a worse position when it comes to retirement security. This disadvantage stems from fewer years spent in the workforce, longer life expectancy, the wage gap and less access to workplace retirement plans.
The SECURE Act, which became law just before Christmas, was designed to help Americans save for retirement and includes provisions that address some of these issues. Needless to say, it does not tackle the wage gap, which, according to the World Economic Forum, at the current rate, will be closed in a mere 257 years.
I teach about 20 women’s financial planning workshops per year. I hope this is a class that will phase out over time as we close the wage gap and provide women more access to retirement plans. In the meantime, here’s what I will be talking about to women in 2020 regarding the SECURE Act:
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