Dilemma for retiring women: “The Triple Whammy”
It’s surely no secret that saving enough for retirement is a key to comfort in your golden years, and women have an even tougher time than men building the nest egg they’ll need. That’s largely thanks to a “triple whammy” caused by the gender pay gap (women make less money than men), the fact that women often take time out of their career to tend to family, and so they’re not able to save as much as they might need for retirement. Add to that the fact that women, statistically, live longer than men and will need their retirement savings to last longer, and it’s easy to see why women need some specialized planning. In this CNBC article by Lori Konish, the author explains why today’s women are faced with this dilemma and offers some suggestions on how to improve their retirement outlook. Click here to read more.
This posting is presented for informational purposes only and does not represent legal or financial guidance. Any opinions or interpretations presented are either those of the original author or, in the case of articles authored by the AMAC Foundation, are the opinions of AMAC Foundation staff, originally trained and accredited by the National Social Security Association (NSSA) and certified via the AMAC Foundation. Any links included in the article are valid on the posted date; socialsecurityreport.org cannot guarantee the duration of the links’ validity. NSSA and the AMAC Foundation and its staff are not affiliated with or endorsed by the Social Security Administration or any other governmental entity. To submit a question, visit our website (https://amacfoundation.org/services/) or email us at ssadvisor@amacfoundation.org. Because we are a non-profit organization, there is no charge for these services.