Whether single, married, divorced, or widowed, women face a challenge in planning for retirement that can be summed up succinctly: need more, have less. Women, on average, live five years longer than men and also have less opportunity to earn and build wealth. According to the Women’s Institute for a Secure Retirement, a typical college-educated woman earns almost $500,000 less during her career than a college-educated man. Women also suspend or cut back on employment to care for elderly, ill, or disabled parents, siblings, or other family members.
Social Security benefits are computed over the span of a work life …Read More