Why planning for retirement is harder for women
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How many of us have seen Grandma outlive Grandpa? Or Mom outlive Dad? Families try to help and plan for these major events, but it goes well beyond taking on supportive tasks such as yard work, driving to doctor’s appointments, and helping with shopping and cleaning.
The issues women face leading up to and during retirement are unique, go beyond addressing daily tasks and require additional planning compared with previous generations due to changing economic and demographic factors.
Although a significant number of American workers are already failing to adequately prepare for retirement, women, in particular, have some additional challenges to consider as they plan for their future in retirement. Policy makers and the private sector must take these factors into consideration in developing new approaches to strengthen retirement security.
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