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Women Need to Focus on Saving More than Men |
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Articles, How-To's and Interviews -
Personal Finances
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Written by Womens-Finance.com
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Studies show that men do most of the savings, yet women need to save
more than men for a number of reasons.
*
The average woman spends 15% of her career out of the work force caring
for her children and elderly parents
* For every year out of the work force, a woman has to work 5 years
to recover the lost income, pension coverage and career promotion
* Women retirees receive about half the average pension benefits that
men receive
* Fifty percent of working women are in relatively low paying jobs with
no pensions
* One year past divorce the average mid-life woman remains single and
earns an average income of $11,300
* Woman change jobs more frequently than men
* At some point in their lives 9 out of 10 women will be solely responsible
for their finances
* Women live longer than men * Elderly women are 3 times as likely to widowed than elderly men
* Health care needs of women are greater than men
* In 1999 women earned 76% of what men earned
Keep these
statistics in mind when you decide to invest for your own future. Keeping
separate retirement accounts isn't only a good idea - it may very well
be a life saver.
All statistics
taken from the Woman's Institute For A Secure Retirement and National
Center For Woman's Retirement Research
Copyright 2001
Womens-Finance.com - Financial resources for women - visit us at
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