We have all heard of the “glass ceiling,” and in recent decades, society as a whole has worked toward shattering it. Though many will argue that the ceiling is still intact, there is no question that women continue to approach it, and many have been able to break through. Despite the focus on that effort, women are finding themselves with a new problem on their hands once they find their financial success: how to prolong that success into their retirement.
Studies upon studies upon studies have proven that women lag behind men in their retirement planning.
It’s easy to point fingers at various causes of this. Some say that it’s because the male dominance in the financial industry causes women to shy away. Others say that women lose their financial momentum when they take time away from their careers to raise a family. Still others blame the mother’s instinct to put their family before themselves as the cause, pushing their own financial future toward the back burner. The truth probably lies somewhere in a combination of them all.