The New Retirement Reality for Women
By the year 2030, women will control as much as two-thirds of the nation's wealth, experts estimate. Currently, women control $11.2 trillion (39%) of investable assets in the United States, according to the Center for Talent Innovation.
Although this financial progress is compelling, as women, we continue to face uphill financial challenges. This is especially true when it comes to preparing for retirement. Not only do women live longer, but we also need to save more for retirement.
Unique Challenges Face Women Moving Toward Retirement
Women earn less during their working years than their male counterparts, to the tune of 80%, meaning that on average women make 80 cents for every dollar paid to. We also tend to work fewer total years than men to take time off for family matters and caregiving.
