Filed under: Burlington Bloggers, business, Technology in business, Uncategorized
Found the following in the publication Pensions and Benefits… It is worth copying here!
Despite being less financially prepared for retirement, once retired, women are more likely to enjoy their retirement than men, says a report by the BMO Retirement Institute. It found women have traditionally faced unique challenges when planning for retirement that often result in a lower level of financial preparedness when compared to men. These include lower earnings ‒ women earn just 83 cents for every dollar earned by men and, therefore, tend to accumulate a smaller retirement nest egg; intermittent work histories ‒ women are more likely to interrupt their employment to act as family caregiver; and women are expected to live, on average, three years longer than men, putting a higher demand on household resources for basic living expenses and the need to pay for healthcare needs and long-term care. The report says women are succeeding because they are more likely to seek advice, are better at choosing an advisor, and are better able replace work with other activities.
