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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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To: TheOldLady

Great to hear!


101 posted on 05/21/2014 7:53:20 PM PDT by Jack Hydrazine (Pubbies = national collectivists; Dems = international collectivists; We need a second party!)
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To: Clintons Are White Trash

As for why the rate of initiation of divorce by women being twice that of men...

IIRC, before women’s lib took over and no-fault divorce, women were taught to be much more picky about what man to marry. This doesn’t seem to be the case any more so or until recently things might have started changing back.

What I think happened is that once the wive’s left the home to pursue careers the children were essentially abandoned to let them figure it out for themselves. As a result many unnecessary mistakes have been learned the hard way in trying to find a good man to marry.

There has been a 29% increase in the number of full-time, stay-at-home mothers since 1999 and I’m willing to bet they will take the time to teach their daughters what their mothers did not and had to learn that hard way.


102 posted on 05/21/2014 8:01:05 PM PDT by Jack Hydrazine (Pubbies = national collectivists; Dems = international collectivists; We need a second party!)
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To: redhawk.44mag
That’s a hefty assumption. I don’t think it’s the norm though.

A paid off mortgage and no other debt is a retirement objective that has been achieved by practically every retiree in my family. I can only think of one who is still paying on a note. Things are different in low cost of living regions of the country. You can actually get out of debt servitude and live a reasonably decent life fairly cheaply. I have an aunt who has outlived her and my late uncle's retirement savings at age 99, and she's holding it together OK on Social Security alone.

103 posted on 05/21/2014 8:59:50 PM PDT by RegulatorCountry
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To: 9YearLurker

Don’t tell him that! ;)


104 posted on 05/22/2014 1:08:58 AM PDT by MacMattico
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To: Jack Hydrazine

How are “women” and “men “ treated so monolithically?


105 posted on 05/22/2014 1:18:53 AM PDT by GeronL (Vote for Conservatives not for Republicans!)
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To: GeronL

I don’t understand your question.


106 posted on 05/22/2014 4:05:04 AM PDT by Jack Hydrazine (Pubbies = national collectivists; Dems = international collectivists; We need a second party!)
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To: RegulatorCountry

I’m very happy for you and yours. I do not believe it’s the norm though.


107 posted on 05/22/2014 4:30:36 AM PDT by redhawk.44mag
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To: redhawk.44mag

Carrying debt into retirement is not wise and is not good planning. Maybe it’s difficult to avoid in high cost of living areas? I can’t say. It’s not typical here to do so.


108 posted on 05/22/2014 5:37:15 AM PDT by RegulatorCountry
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To: ottbmare

I don’t consider two people lacking a sense of humor to be “no one gets your jokes”.


109 posted on 05/22/2014 7:40:47 AM PDT by Boogieman
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To: RegulatorCountry

Of course it isn’t, but things do not always go as planned for many. It is a big country, with economic levels all over the scale. As I said, good for you and yours. I do not think your situation is the norm.


110 posted on 05/22/2014 7:49:05 AM PDT by redhawk.44mag
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To: Boogieman

Okay, big guy. You win. You can have the last word and win the debate with the little women. Enjoy!
xoxoxo


111 posted on 05/22/2014 9:49:04 AM PDT by ottbmare (the OTTB mare, now a proud Marine Mom)
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To: ottbmare

What debate? I made a joke and a couple ladies got their panties in a bunch.


112 posted on 05/22/2014 10:03:42 AM PDT by Boogieman
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To: ladyjane

You assume that infidelity is the main cause of divorce. Actually money problems are the #1 cause. As for cheating, older men are more likely to cheat than older women, but among younger people it’s roughly equal. And a man (or woman) cheating may be a symptom of other problems as much as a cause.


113 posted on 05/22/2014 1:46:29 PM PDT by Hugin
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To: BilLies
My wife, who worked out side the home for a short time before the children came, and I tried to planned for our old age. Social Security was never meant to be the only source of old age income.

YOU...are a blessing, sir! You've planned ahead and not depended on ANYONE nor ANYTHING, except yourselves. You and your wife are indeed inspirational...and your children are blessed to have you as parents.

114 posted on 05/22/2014 5:50:54 PM PDT by Jane Long (While Marxists continue the fundamental transformation of the USA, progressive RINOs assist!)
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