January 29th, 2008
Millions Of Us Women May Run Out Of Retirement Savings
Experts Urge Planning For Retirement Risks
The majority of women in the country may not be saving enough income for their retirement and will not be able to support themselves over their lifetime. Typically, women receive lower wages than men and spend less time in the workplace when raising families, which can equate to less retirement savings. As many as 60 percent of surveyed women (pre–retirees) are concerned that they may deplete their savings during retirement, leaving Social Security as their only financial income, according to a new report, Impact of Retirement Risk on Women, published by the Society of Actuaries (SOA) and sponsored by the Women’s Institute for a Secure Retirement (WISER).