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
As an award-winning spiritual life & money coach who is highly trained in the financial & insurance services industry, my focus is women, healing and financial empowerment. Currently, I’m fascinated by the mind-body-money connection because this is where you truly release the blocks and patterns that are holding you back from enjoying the financial success you truly desire.
My goal is to help you break free of the blocks and patterns that hold you back in any aspect of your financial journey. But, more importantly, I want you to be able to retire with enough money to take care of your needs throughout your golden years (when you can no longer work), no matter how long you may live.