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Eleanor Blayney, CFP CFP Board Consumer Advocate President, Directions for Women Presentation to National Press Foundation Fellows June 12, 2012
$2730
$2520
US Male
US Female
Pay Inequality
Risk Aversion
60% probability
80% probability
Graph shows expected monthly income, at two probability levels, based on initial retirement period of 25 years for a male, a $1,000,000 portfolio, invested 60% in stocks. Female assumed to live 5 years longer, save 70% of what male saves, and invests 25% in stocks.
Latest Census data shows 56 percent of women 65 or older are unmarried, compared to 24 percent of men in same age groups. By ages 75-84 63 percent of women are single
Whereas, in all age groups beyond 65, the majority of men are married (even into nineties).
Implications of becoming single in retirement: Retirement may be a time of grief, moving from coupled state to being and living alone Decisions about where to live, and how to accomplish the tasks of living much more difficult Being single makes women more vulnerable to elder abuse (financial and physical)
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