Working women are falling short behind men when it comes to retirement planning and savings according to Transamerica Center for Retirement Studies. Because of their maternal duties and other caregiving obligations, female workers enter and leave the workforce more frequently. On top of that, they receive lower salaries than men so they retire with smaller nest egg. And because they are likely to live longer, that retirement money has to last longer, too. This infographic highlights some sobering statistics and sad facts about women’s retirement.
While all of this is true, women have the temperament and resolve to potentially manage their money more effectively than men. By bringing their discipline and investment strengths to bear, they can potentially offset some of those challenges and set themselves up for a more successful savings outcome. So while these are sad facts indeed, the good news is more and more women are getting involved in their family finances, seeking help from financial professionals, and improving their financial future.