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Studies show that men do most of the
savings, yet women need to save more than men for a number of
reasons.
* The average woman spends 15% of her
career out of the work force caring for her children and elderly
parents
* For every year out of the work
force, a woman has to work 5 years to recover the lost income,
pension coverage and career promotion
* Women retirees receive about half
the average pension benefits that men receive
* Fifty percent of working women are
in relatively low paying jobs with no pensions
* One year past divorce the average
mid-life woman remains single and earns an average income of $11,300
* Women change jobs more frequently
than men
* At some point in their lives 9 out
of 10 women will be solely responsible for their finances
* Women live longer than men
* Elderly women are 3 times more likely
to be widowed than elderly men
* Health care needs of women are
greater than men
* In 1999 women earned 76% of what
men earned
Keep these statistics in mind when
you decide to invest for your own future. Keeping separate
retirement accounts isn't only a good idea - it may very well be a
life saver.
All statistics taken from the
Woman's Institute For A Secure Retirement and National Center For
Woman's Retirement Research
Copyright 2001 Womens-Finance.com -
Financial resources for women - visit us at http://www.womens-finance.com
or subscribe to our newsletter by sending an e-mail to budget@womens-finance.com
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