3 Alarming Stats About Women's Retirement Savings
While our country has come a long way on gender equality, the pay gap remains a prominent issue. It's felt in many aspects of women's lives, most significantly in retirement savings, a challenge for every American. Three statistics indicate just how much rougher the road to retirement is for women.
A 2016 study by the nonprofit National Institute on Retirement Security found that women 65 and older had an average income that was 25% below the average income of men 65 and older. Consequently, the women in the study were 80% more likely to be impoverished than the men. The study also found that women 75 to 79 were three times more likely to live below the poverty line than men of the same age. Single women and minorities were even more likely to live in poverty.
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