Retirement Planning Is Different For Women: Here’s Why

As International Women’s Day approaches (March 8), it’s the perfect time to reflect on the progress women have achieved in the financial realm over the past century. Despite this, the path to retirement is not without its unique challenges for women, and it’s important to recognize the financial hurdles that they continue to face.

In this episode, we’ll share some eye-opening statistics and actionable advice to empower women in their financial journey. From career interruptions to the impact of higher debt burdens, this is why retirement planning is different for women.

Here’s some of what we discuss in this episode:

• Career interruptions that women often face and how this impacts retirement savings

• Women’s longer life expectancy + the impact of divorce on women’s finances

• The higher debt statistics for women

• A lack of education when it comes to personal finance + women’s confidence when it comes to finances

• The importance of both parties being involved in financial planning

Resources for this episode:

https://pubmed.ncbi.nlm.nih.gov/23331196/

https://www.troweprice.com/content/dam/iinvestor/resources/insights/pdfs/closing-the-gender-retirement-savings-gap.pdf

https://www.prnewswire.com/news-releases/bmo-survey-finds-american-women-significantly-less-confident-in-retiring-compared-to-men-301764524.html

If you are interested in any of the topics we discussed, please reach out and we would be happy to help you navigate your financial situation.