Womens’ Financial Concerns

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Life Expectancy

Women have a longer life expectancy.

Lower Income

Women generally have lower income then their male counterparts.

Higher health care expenses

Women have 39% higher health costs.

Long-term care

Women are more likely to need long-term care than men.

Longer and more expensive retirement

Higher health care expenses

Women have an average additional life expectancy of 20.6 years after age 65.

Women have

32% lower

retirement account balances on average than men do.

Nearly 2 in 10 women are projected to need long-term care for more than 5 years.

45%

of women plan to work after they retire, or don’t plan to retire at all for financial reasons.

Women have 39% higher health costs on average than men in retirement.

More than 70% of nursing home residents are female.

Women over 65 have 2X the risk of developing Alzheimer’s disease than men.

Protect, Save, Manage Debt, Invest

There are four financial disciplines I consider vital to planning for your future. The order of these disciplines is essential since completing one establishes a foundation upon which to build the next.

Protect

What is a Beneficiary

Choosing beneficiaries, and keeping those choices up-to-date, is an important part of owning life insurance. The birth or adoption of a child, marriage, or divorce can affect your initial choice. Review your beneficiary designation as new situations arise in order to make sure your choice is still appropriate.

Read More

Save

Manage Debt

Learn How to Pay Off Debt

Debt is one of our least favorite things to talk about, and that's one of the main reasons it is so hard to pay them off. BUT researchers have figured out how to rewire your brain to take on the debt monster.

Read More

Invest

Additional Demands on Family Finances

Women are 73% more likely to leave the labor market due to caregiving needs than men.

46% of women in two-income households are at risk of being unable to maintain their standard of living in retirement.

A woman’s household income falls 41% after divorce.

On average, women will survive their husbands by 15 years.

32% of women over age 65 are widows.

Sources based on the data shared by Rex Nutting-Market Watch (2016), Surveys conducted by OnePoll for LifeHappens.org (2020), plansponsor.com article retirement concerns remain (2019).

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