I hear it all the time: life is short. Way too short, in fact. But for women, it is getting a little longer, according to some national research.
The average American woman’s life expectancy hit an all-time high of 81.2 years back in 2014. That compares to the life expectancy of 76 years for the average American man.
However, women retire an average of two years earlier than men. Over their lifetime, women are still earning less income than their male counterparts. All of this combines to put women at a real serious risk when it comes to retirement, when their money needs to last longer.
What’s the solution here? Well, one key is that women need to start investing earlier for their retirement. This can not only ease concerns about their retirement security, but also empower them about being financially secure.