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 ...
Great to hear!
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.
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.
Don’t tell him that! ;)
How are “women” and “men “ treated so monolithically?
I don’t understand your question.
I’m very happy for you and yours. I do not believe it’s the norm though.
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.
I don’t consider two people lacking a sense of humor to be “no one gets your jokes”.
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.
Okay, big guy. You win. You can have the last word and win the debate with the little women. Enjoy!
xoxoxo
What debate? I made a joke and a couple ladies got their panties in a bunch.
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.
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.
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