Current Gender Norms Mean Stakes Are Higher for Women, but these Challenges Don’t Have to Sideline Your Retirement Planning
Financial professionals will tell you that every retirement plan is different when it comes to retirement planning because every retiree is unique. However, that isn’t exactly true since many married couples create and depend on just one retirement plan for both of them. Though this might seem like common sense at first glance, couples should be sure that their shared retirement plan represents their very different retirement needs and realities.
Unfortunately, even in these modern times, women are still more likely to take a backseat when it comes to planning for their financial futures. This is true even though women are more likely to live longer than their male spouses, meaning that they have more riding on the retirement plan’s longevity. Of course, this isn’t the only challenge that makes a woman’s participation in financial planning a must.
Read on for five reasons retirement planning is different for women and, therefore, why they should be active participants in planning their retirement finances.