I know people that are working into their late 70s and up into their 80s. Now a lot of them have cut down, but retirement the way we dream of it and think of it doesn't happen to a lot of people. It has not happened for Beverly Lange. She worked many years, but never long enough for any one employer to qualify for a pension. I thought that I would get to be that grandmother that baked the cookies and got to have the grandkids over all the time.
Studies show that women are twice as likely as men to face poverty in retirement.
Because they have been in and out of the workforce raising children, they are less likely than men to have company pensions. Those who do, typically have smaller pensions and smaller Social Security benefits because both are based on earnings. And women still earn just 79 cents on the dollar compared to men. That puts an extra burden on women to save as much as they can. For many women, retiring to a life of leisure has been impossible for years.