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Why many retired women live in poverty
CNN Money ^ | 13MAY2014 | Melanie Hicken

Posted on 05/20/2014 9:34:42 PM PDT by Jack Hydrazine

Gender inequality doesn't end at the workplace. For many women, the gender gap haunts them well into their retirement years, when far more women find themselves living in poverty.

In fact, women are almost twice as likely as men to live below the poverty line during retirement, with single and minority women struggling the most (see chart).

On average, women 65 years and older rely on a median income of around $16,000 a year -- roughly $11,000 less than men of the same age, according to a Congressional analysis of Census data. And many elderly women rely exclusively on Social Security benefits.

The problem: Women earn -- and save -- less over their lifetimes than men, leaving them with a smaller nest egg. And because they tend to live longer, that savings has to last longer, too.

(Excerpt) Read more at money.cnn.com ...


TOPICS: Business/Economy; Culture/Society; News/Current Events
KEYWORDS: poverty; retirement; women
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1 posted on 05/20/2014 9:34:43 PM PDT by Jack Hydrazine
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To: Jack Hydrazine

Have they found a way to blame Bush or Reagan yet?


2 posted on 05/20/2014 9:36:45 PM PDT by Mastador1 (I'll take a bad dog over a good politician any day!)
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To: Jack Hydrazine

I don’t know how accurate this article is but I lean on the side of them being correct since I have read other articles that indicate women tend to hit poverty after divorce.

http://www.familyfacts.org/briefs/8/marriage-and-poverty


3 posted on 05/20/2014 9:37:04 PM PDT by Jack Hydrazine (Pubbies = national collectivists; Dems = international collectivists; We need a second party!)
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To: Jack Hydrazine

Because they voted Democrat?


4 posted on 05/20/2014 9:41:30 PM PDT by iowamark (I must study politics and war that my sons may have liberty to study mathematics and philosophy)
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To: Jack Hydrazine

Just nationalize everyone’s retirements and make all distributions equal regardless of how much a person worked or saved. Except for the public employee union members of course.


5 posted on 05/20/2014 9:42:08 PM PDT by Rusty0604
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To: Mastador1

They are working on it.


6 posted on 05/20/2014 9:42:35 PM PDT by Jack Hydrazine (Pubbies = national collectivists; Dems = international collectivists; We need a second party!)
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To: Jack Hydrazine

The cause of this is simple: a lifetime of shopping has left them destitute!


7 posted on 05/20/2014 9:45:20 PM PDT by Boogieman
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To: Jack Hydrazine
In fact, women are almost twice as likely as men to live below the poverty line during retirement,...

They're also more likely to be alive so ... nyah nyah nyah longevity inequality!

8 posted on 05/20/2014 9:51:16 PM PDT by TigersEye ("No man left behind" is more than an Army Ranger credo it's the character of America.)
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To: Jack Hydrazine

We should force retired men into poverty. That way everyone will be equally poor and the liberals will be happy.


9 posted on 05/20/2014 9:53:45 PM PDT by Cowboy Bob (They are called "Liberals" because the word "parasite" was already taken.)
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To: Jack Hydrazine

Cry me a river...


10 posted on 05/20/2014 9:53:48 PM PDT by babygene ( .)
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To: Jack Hydrazine

Ironic, since women initiate divorce twice as often as men.


11 posted on 05/20/2014 9:55:18 PM PDT by Hugin
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To: Jack Hydrazine

“And because they tend to live longer, that savings has to last longer, too.”

Well, isn’t that unfair /s


12 posted on 05/20/2014 9:56:53 PM PDT by babygene ( .)
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To: Hugin

“Ironic, since women initiate divorce twice as often as men.”

That sounds correct. However divorce effects both husband and wife negatively... Especially for older folks, divorce is stupid...


13 posted on 05/20/2014 10:01:58 PM PDT by babygene ( .)
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To: Boogieman

The reason elderly women have less money than men is the reason younger women earn less money: in general women try to work regular hours, shorter hours, because they are taking care of children at first, and perhaps parents later. If you only work 9 to 5 because you have to drop kids off and pick them up from daycare, or you take days off to take them to the pediatrician and stay home with them when they’re sick, you’re not going to make as much money as the male colleague who may be no more smart or talented but can work late, travel on business, or pull all-nighters. That’s not discrimination, it’s just a fact of life, but it does mean that we don’t get the pay raises and promotions and we don’t accumulate the pensions and Social Security our male colleagues do.

I am a woman facing an old age of near-poverty. Being a dedicated mother who put her children first was indeed my decision, and I’m going to pay for it. I don’t see a solution to the problem.

Meanwhile, I might just gently point out that making bitchy remarks about shopping habits is not a helpful contribution to the discussion.


14 posted on 05/20/2014 10:03:24 PM PDT by ottbmare (the OTTB mare, now a proud Marine Mom)
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To: Jack Hydrazine

When feminists attacked patriarchy, they destroyed the very institution that protected and provided for them. Discontent fed the independence drive that drove them to complain more and divorce. The family be d@mned a girl has to reach her full potential you know. Family Law changes awarded the discontented independent any children plus cash and prises from the ex she defrauded - but Oprah nation said you go girl, he wasn’t meeting your needs and you can do better. Women in droves free from the patriarchal structures looked to their rich uncle Sam to provide what a husband should, only they did not realize Sam was a cheat who would enslave them far worse than any husband could. In droves they swooned and then voted as Obama promised them they could have sex out of marriage and murder their children, because they didn’t want to punished with a baby. They left the so called oppression of patriarchy that built the nation and ran straight into government slavery. Now they find out that when you make a deal with the Devil you get burned. Only in this case we all are consumed in flames.


15 posted on 05/20/2014 10:33:06 PM PDT by DaveyB ("When injustice becomes the law; rebellion becomes duty." - Thomas Jefferson)
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To: Jack Hydrazine

they forget men die earlier and they can live off their benefits/monies.


16 posted on 05/20/2014 10:33:33 PM PDT by Secret Agent Man (Gone Galt; Not averse to Going Bronson.)
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To: ottbmare; All

Exactly -

I’m a year away from 80 -

I worked to retirement age - which coincided with my doctor telling me I had to stop because of health.

I often worked one full time and 2 part time jobs - to make less than a man’s wage on one. And health insurance seldom came with women’s jobs.

When my children were little - in the ‘60’s, we traditionally stayed home and raised OUR OWN KIDS.
The gov’t didn’t used to punish us for that - but now they do. Instead of figuring soc. sec on your last or best 10 years of work, hey go back to age 15 - and add the child rearing years in a ZEROS - That takes the amount down drastically.

There’s an old Cherokee saying: “Unless you have walked in my moccasins many moons, do not judge.”

So I agree with you, ottbmare, the snarky remarks here are not needed.

For you younger gals, thank your lucky stars that employment for women today has done a 180 - I am ecstatic for my granddaughters, seeing them in great paying positions, knowing they won’t have the struggles my generation of women did...and do.

I miss the Freepers that were here 10 years ago - most of them have given up and moved on. I can see why.


17 posted on 05/20/2014 10:41:56 PM PDT by maine-iac7 (Christian is as Christian does - by their fruits)
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To: ottbmare
Being a dedicated mother who put her children first was indeed my decision, and I’m going to pay for it. I don’t see a solution to the problem.

At one time, families greatly valued decisions such as yours.

But I suppose these are different times. I hope your children understand the sacrifices that you made, and will be there when you need help. The best of luck to you.

18 posted on 05/20/2014 10:45:59 PM PDT by Leaning Right (Why am I holding this lantern? I am looking for the next Reagan.)
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To: ottbmare
Meanwhile, I might just gently point out that making bitchy remarks about shopping habits is not a helpful contribution to the discussion.

I agree. Unfortunately, that has become the trend of FR over the years. I think it's supposed to pass for humor. Go figure. You just have to ignore those FReepers and make a note of the FReepers whose posts are worth reading.

I am in the same boat except that I spent a lot of my working years taking care of terminally ill family members (3) never giving a thought to the toll it could take on my finances in my senior years. Even so, I'd do the same thing again. You know how it goes. You rise to the challenge at hand.

It's difficult to get back into the work force when you've been out for a while. Now that I'm facing this very austere way of life, I really need a job. (Lost mine immediately after the ObamaCare Supreme Court decision was announced.) The trouble is, no one wants to hire an old lady. :'( Nobody warned me that I would be unnecessary by my 60s.

19 posted on 05/20/2014 10:46:24 PM PDT by ru4liberty
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To: maine-iac7; ottbmare
So I agree with you, ottbmare, the snarky remarks here are not needed.

I miss the Freepers that were here 10 years ago - most of them have given up and moved on. I can see why.

Hear! Hear!

20 posted on 05/20/2014 10:49:48 PM PDT by ru4liberty
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