Disparate Retirement Stats for Women

Disparate Retirement Stats for Women

The financial woes women face in the workforce exist beyond disparate wages.

80% More Likely to Be Impoverished After Age 65

According to a recent study, women of 65 years of age and older are 80% more likely to be impoverished than men of their same age. This statistic is attributed, in part, to women’s lower earnings throughout their working years. In turn, women receive less Social Security and must save more from each paycheck to retire with savings similar to that of their male counterparts.

$150,000 Needed for Retirement Healthcare

A 65-year-old woman retiring in 2019 is anticipated to need approximately $150,000 to cover retirement healthcare, whereas a 65-year-old man retiring at the same time is estimated to need $135,000 for medical expenses during retirement.

43% Less Retirement Savings

Studies have also shown that, on average, women save about 43% less than their male counterparts. This figure is partially attributed to women earning less than men and the higher likelihood for women to step away from the workforce.

Ugh! While the above statistics are certainly noteworthy, proper planning can help to better prepare women for retirement.

Source: USA Today, 3 Alarming Stats About Women’s Retirement Savings

More Updates


For trusts that inherited an IRA in 2019, an important deadline is approaching. The due date to provide required trust documentation to the IRA custodian to ensure that the longest payout period possible is available for the inherited IRA is October 31, 2020. Generally, only individuals who are named on an IRA beneficiary form can

Read More »


The coronavirus-related distribution (CRD) rules for Roth conversions have a gaping hole. An “affected person” (as we have defined in previous blogs), is entitled under the CARES Act to withdraw up to $100,000 from their IRA or workplace retirement plan. A CRD avoids the 10% early distribution penalty for those under 59 1/2, can be

Read More »

Rolling Over an RMD

Like most people’s lives, the retirement world is upside down. This is made evident by a single statement: “Required minimum distributions (RMDs) can be rolled over.” Yes, that is the new normal—at least for this year. RMDs are considered the first money out of an IRA and workplace plan. Typically, these dollars are ineligible to

Read More »
Scroll to Top