The Facts about Women and Retirement

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Here are some facts:

According to the Department of Labor, a woman 65 years old can expect, on average, to live another 20 years, two years longer than a man.
Because women live longer, there are millions more women than men age 65 and older.
Nearly half of women 65+ are widowed or divorced, compared to about one-quarter of men.
Single older women are far more likely to depend on a single income source, often Social Security.
Women age 65 and older experience higher poverty rates than men, and single women face even higher poverty levels than married couples.
Over 40% of older women rely on Social Security for most of their income.
Women have historically been less likely to participate in employer retirement plans.
Among full-time, year-round workers, women earn an average of 83% (non-adjusted) of what men earn, reducing their ability to save.
Women in their 40s and 50s report expecting to save about half as much for retirement as men of the same age.