we are passionate about helping women build confidence in their personal financial security

Here’s a telling fact to digest – from the age of 65 to the end of life, the majority of American women are single, whereas the majority of men are married. What does that mean for women retirees?

  • Most are not able to take advantage of the old adage “two can live more cheaply than one,” where, for example, two Social Security incomes help pay for shared living costs

  • Contrary to what many may believe, after losing a partner through death or divorce, a woman’s standard of living generally declines

But even before age 65, the road to financial security is a lot more challenging for women. The above is also coupled with other statistics such as:

  • Years of earning less than a male counterpart affect both savings rates and eventual Social Security benefits (i.e. both are lower than the average male)

  • Women live longer than men (usually by about 5 years), which means that they have to make their savings and investments last longer

  • Because women often remain the primary caretakers of children and the elderly, they work about seven fewer years compared to men, which again translates to less years of potential retirement savings and Social Security credits

So given the reality that women must “do more with less” to achieve financial security, this is a classic case of “forewarned is forearmed.” We don't have to take the journey alone. If you find that your situation is similar to any described above, our fee-only financial advisors provide solutions to meet your needs. To see how our financial planning and investment management services help you achieve financial security, get started by contacting us.

Financial Perspectives is a proud supporter of the Women and Finances Advocacy Network, a group working to elevate women’s financial intelligence and help them find solutions to their unique financial planning needs.