Longevity Rules: Why long-term retirement planning is more important for women

Longevity Rules: Why long-term retirement planning is more important for women
Retirement planning is one of the most important guarantees an individual can make to ensure that their retirement goes smoothly and with as few interruptions as possible. However, women are having to take into consideration some extra factors in retirement planning that men aren’t necessarily as concerned about. The biggest concern that women are faced with is an extended longevity (1). Statistics are still showing that, on average, women tend to live 5-10 years longer than men. There is also still a very real and very pronounced wage difference between female earners and their male counterparts (2). Combine these realities with the fact that nearly 50% of women over 65 are still facing crises regarding outliving their financial resources (3), retirement planning is critical for a happy, healthy retirement for women.
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Personal Finance for the Modern Woman

In this modern day and age it’s simply irresponsible for women to take a backseat when it comes to dealing with their own finances. Although the stereotypical, dated model of men bringing home the bacon and women taking care of the home may (or may not have) worked for the cast of Mad Men, it simply isn't practical anymore. In fact, approximately one third of women in the United States now identify themselves as a breadwinner (http://bit.ly/Od9DbZ), and that trend will only increase in years to come as gender stereotypes continue to crumble. So rather than tuning out when long term planning is brought up, or even worse, avoiding the situation altogether, here’s my advice to women looking to get on the path to financial security.
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