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Pandemic Worsened Retirement Challenges For Women
Most financial advisors will agree - women face more daunting retirement challenges than their male counterparts, and the COVID-19 pandemic only made matters worse. The reasons retirement planning for women is more difficult are pretty well known - the so-called gender pay gap and career time sacrificed for parenting and caregiving. But the pandemic induced some additional challenges related to employment (furloughs, layoffs, early retirement, etc.) as well as early use of retirement savings and increased debt. As the pandemic subsides, women would be well served to return their attention to retirement basics - increasing savings and reducing debt - as discussed in this article by Ted Godbout appearing at the website for the National Association of Plan Advisors (NAPA). Click here to read more.
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