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    Women & Income

    Retirement today is much different than it was during our Parent’s lives. In the past, most retirees transitioned from their employer to a 3 legged financial stool. One leg was Social Security, another was the company pension and the 3rd was personal savings. So, after the leaving the career, income levels did not drop much for new retirees.

    Flash forward 25 years to today and the whole retirement horizon has changed. The vast majority of workers participate in Defined Contribution Plans {401(k), 403(b), 457} instead of Defined Pension Retirement plans. Now, instead of folks counting on and relying on their employer for a lifetime pension, most employees leave with the vast majority of the savings in their contribution plan. Now the responsibility of caring for those in retirement falls on the individual instead of their employer. It’s now the retirees job to make sure they have enough money now and in the future for themselves-it’s no longer the responsibility of their employer.

    Women Make less Money

    Many women earn much less than their male counterparts even in the same job. Typically, females are paid about 80-85% of what Men earn in the same career path. As a result, Women need to work longer and harder to accumulate their retirement savings. Although the “glass ceiling” is slowly coming down, many female executives know they are being undercompensated.

    Women work less hours

    At some point in their working lives many Women choose to have children. Naturally, this results in needing time off from work to carry the pregnancy, give birth and to spend time with their newborns. In addition, many Women find themselves in caretaking roles with their family members and in-laws at various points in their career. The time they need to devote to their families leaves less time in the workforce and less opportunity to save for retirement.

    Women live longer

    If losing our pensions at work was not enough or if earning less throughout our careers did not pose enough risk, then how about living longer too?

    Longevity risk a key concern for women because the longer the life the higher probability of requiring Long Term Care. Most folks today will live 5-10% longer than their same sex parent. So, if your Mother lived until 85, there is a big chance you will live to be 93 or older.

    Living longer means that we’ll need more money and we’ll need it to last longer. The number one fear most retirees have in America is not dying-it’s running out of money.


    When we retire, start collecting our Social Security, and how much and how soon we plan to draw down on our savings plays a considerable role in helping to determine our retirement income. In addition, Market timing can make or break a retirement portfolio’s income producing capacity. If a retiree suffers large market losses during their first few years it can devastate their lifestyle and ruin their long range plans.

    It’s critically important for Women today to understand the challenges they face them when transition into retirement.

    Education provides the basis for making sound financial decisions. We believe that knowledge helps retirees to make more informed and logical decisions concerning their investments and income planning. Please feel free to read and download the following articles: