Facts Women Should Know About Preparing For Retirement

Women face challenges that often make it more difficult for them than men to adequately
save for retirement. In light of these challenges, women need to pay special attention to
making the most of their money.

• Women tend to earn less than men and work fewer years.

• Women tend to change jobs or work part time more often, and they interrupt their careers
to raise children. Consequently, they are less likely to qualify for company-sponsored
retirement plans or to receive the full benefits of those plans.

• On average, women live 5 to 7 years longer than men, and thus need to build a larger
retirement nest egg for themselves.

• Some studies indicate women tend to invest less aggressively than men.

• Women are less likely to be financially informed than men.

• Women tend to lose more income than men following a divorce.

• Women are twice as likely as men during retirement to receive income below the
poverty level.