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Why Saving for Retirement Is Harder for Women Than You Might Think
2025-05-01 11:45:04| Spiritual Career Counseling
Statistics about people falling short of saving enough for retirement are commonplace. Many people struggle to put away a suitable amount to live on once they stop working. However, it's typically much harder for women, who tend to shoulder more responsibilities outside of work, including raising children and caring for older family members. Things are made worse by an advantage women typically have over mena longer life expectancy. Women not saving as much would be an issue even if women and men had the same life expectancies, Melody Evans, a wealth management advisor, told TIAA in a report on closing the retirement wealth gap. But its even bigger since women have longer retirements. Women should be coming to retirement with more money than men because they have to spread it over more years. Key TakeawaysWomen retire with 30% less retirement income than men, and they live longer on average.Caregiving duties force many women to work fewer hours, miss out on career opportunities,...
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Employment