Women and Financial Planning
This year’s International Women’s Day campaign theme is #BalanceforBetter, “Think equal, build smart, innovate for change”.  It is a time to applaud the progress of women’s achievements around the world. However, even with incredible progress, women face unique circumstances when approaching retirement. Women Live Longer Than Men Because women tend to live longer than men, they likely will have a longer retirement. This is great, but it also means that you will need to fund that longer retirement. On average in the US, women will need to pay for almost 5 more years of retirement. It’s important to remember that when your spouse dies, you may also lose some of your reliable income for pensions or annuities. Women Tend to Be More Conservative Financially Being overconfident is one of the worst things that you can be when you are preparing for retirement, and we are all wildly overconfident. Women tend to be a little less overconfident than men. Because of this, women tend to be more risk averse. There’s nothing inherently good or bad about this, but it is something that is important to pay attention to, especially if you are married. How spouses feel about risk is one of […]

Source: Retirement Researcher

Women and Financial Planning

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