Here’s a very well written article, 3 Reasons Women Should Save More Money, that spells out the challenges women face when it comes to saving for retirement.
The author goes even deeper into explaining how these challenges keep women coming up short in retirement account balances by sharing hypothetical scenarios to illustrate the point.
The main challenges she lists are the same I’ve been warning my readers about for years.
- Lower wages compared to men
- Fewer years in the workforce
- Being more likely to work part time
- Less access to workplace retirement benefits
- Longer life spans, and therefore higher healthcare costs
For these and other contributing factors, women need to be more diligent in saving a higher percentage of their income than men.
Women also need to be mindful of how life decisions are impacting their ability to save on a more consistent basis.
Check out the article, it’s a quick read. If nothing else, you’ll be inspired to look for more ways to increase your own retirement savings.
Read the article here: 3 Reasons Women Should Save Money