In light of these challenges, women need to pay special attention to making the most of their money. Women tend to earn less than men and work fewer years. Women tend to change jobs or work part-time more often, and they interrupt their careers to raise children. Consequently, they are less likely to qualify for company-sponsored retirement plans or receive the full benefits of those plans. On average, women live 5 to 7 years longer than men, and thus need to build a larger retirement nest egg for themselves.
Some studies indicate women tend to invest less aggressively than men.
Women are less likely to be financially informed than men. Women tend to lose more income than men following a divorce. Women are twice as likely as men during retirement to receive income below the poverty level. Click here to tell a friend.