Gray divorce can have an outsized effect on women since in many cases women have longer life expectancies, their husbands may have been managing the family finances and they often took significant time out to raise children, which impacts their retirement benefits and savings and their career prospects…
Although both men and women have access to the same retirement savings accounts, recent research has found that women are far less financially prepared to retire in comparison to their male counterparts. This isn’t only due to obvious reasons, such as the gender pay gap. Everyday reasons matter as well when it comes to saving enough for retirement.
Many people say, “I’ll travel when I’m retired, then I’ll have the time and money to truly seek adventure.” The harsh reality though, is that a little over 3 million Americans are concerned that they will not have enough saved income to afford to retire in the United States, much less travel.
You probably know that women have a longer life expectancy than men, but did you know that there are 105 males born for every 100 females to compensate? Women have a longer retirement than men, so start now to plan for it.