Caring for a Parent. When time out of the workforce to care for an aging parent is combined with the years out for raising children, family care causes women to be out of the labor force for almost one-third of their possible working years. Since women live longer, they can expect to live some of their retirement years without their spouse. If the husband was the primary wage earner earlier in life, his death is made all the more difficult if the woman stands to lose all or part of his pension. When a spouse dies, living and household expenses are not cut in half as some people might think.
Women still earn less than men.
Pension benefits are usually based on years of service and salary, so lower wages throughout a work life mean lower pension benefits later on. Risk is the potential for realizing low returns or even losing money. The resultant loss can keep you from achieving desired goals. Regardless of age, women tend to prefer conservative investment options offering lower risk. Unfortunately, lower risk typically translates into lower returns.