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 ...
I presume that a significant part of this is due to the shorter life span of men vs that of women. When the husband dies some time before the wife, paying for his illness burns through their savings, leaving the wife essentially destitute.
Just speculation on my part, of course.
This is just speculation, but I think all the women who are on welfare are pulling our average down. I mean they get more benefits while they have kids. Once those kids leave, those benefits get cut.
Hear, hear! The way I figure it, I may never make it to retirement, so I do want to live a little now.
Actually, I am 66, so I could retire, but I'd rather have enough money but not enough time, than have enough time, but not enough money.
Besides, God put man on this earth to work. I know if I retired I'd sit on my hindquarters and read because that's what I like to do. I'd be dead in two years.
I may not work till I drop, but I intend to work as long as I'm have fun at it. It took me years, but I'm finally where I wanted to be, and why should I give that up?
Or are more likely to get caught. Doesn't it take somewhere near two to tango?
i agree.
i think what screws up a lot of retirement for both men and women is divorce. the only peoples that do well from it are lawyers and keeping social services employees paid and working.
Funny, your signup date says 2013-5-31.
Yes, it does
It’s strange when I look at those things the social security admin sends out. The years I stayed home with the kids I had zero income so although I’m making okay wages now - those years I had zero income I suppose will be averaged in as well?
P. S. I do not like to shop, neither does my mother and neither does my daughter. My ex however loved to shop and spent us out of house and home (well not literally out of home but he liked to spend more than we earned). I am an extremely frugal individuals as are my mother and my daughter.
And still there are many moms who chose to and are able to stay home with their kids. I don’t know the answer but they will have many years of zeros on their social security wages. We don’t think about these things when we’re home with the kids.
Mm-hm.
Must be that Common Core math.
see my #34 to you in the rat poison thread
I didn’t. I kicked Hubby 1.0’s dust off my feet and happily got a great job and met my current husband there. We’ll be married 35 years in a few months, God willing.
“a lifetime of shopping has left them destitute!”
—
Do you have any idea what a horse’s *** you are.
I spent years shopping-——for a 7 person family-—even shopped for my mother when she could no longer do it.
.
Congrats, you are the second lady who has chimed in to let us know she doesn’t possess a sense of humor.
“Congrats, you are the second lady who has chimed in to let us know she doesn’t possess a sense of humor.”.
—
I never,ever laugh on Wednesdays.
.
If no one gets your jokes, the humor deficit might not be with us.
I understand that you were trying to make a joke, but it’s impossible to interpret facial expressions and tone of voice on the Internet. Sometimes it just doesn’t work.
They will have to reform SS soon in order to prevent its collapse, at which time they will hopefully come up with an equitable plan for your generation. I didn’t come up with the current Ponzi scheme, so please don’t blame me for its shortcomings.
Must be a lot of divorced men here on the Free Republic!
My wife and I have been happily married for something like 27 years now. She's got nothing to worry about. She's going to outlive me and she's getting all my money. Hell, my mother-in-law will probably outlive me and so she'll get some of it too.
Ha—those mothers-in-law are a tough bunch!
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