It's not an illusion, there ARE more little old ladies in the retirement homes than little old men. On average, women in the U.S. live longer than their male counterparts, making outliving their income in retirement a very real possibility for many. It's one of the unique challenges that women face when it comes to long- term financial planning.
According to a 2019 study from T. Rowe Price measuring gender and retirement:
Numerous factors and complex calculations go into determining how long your income may last, including your savings rate, portfolio asset allocation, tolerance for risk, and when you retire. With the help of sophisticated scenario strategy software, we can collaborate on a comprehensive strategy based on realistic projections for how long your income may last, and then monitor and adjust your strategy as needed to help keep you on track.
Whether you are single, married or divorced, it's important that you understand how to manage longevity and other financial challenges in retirement. If you'd like to learn more, or know someone who would benefit from our services, please call the office. We'd love to hear from you.
Stay safe, stay healthy, and stay the course.
You're Probably Going to Out Live Him
February 25, 2021