Women have made great financial strides over the years, but one thing that hasn't improved for them is their retirement planning, according to a new study by the Insured Retirement Institute. Retirement planning is different for women than for men because women have typically made less money than men over the years but they live longer.
The report, Women and Retirement, found that women have made great financial strides over the years, controlling 27 percent of investable assets worldwide. In households where both spouses work, the percentage of women who earn more than their husbands increased from 18 percent in 1987 to 29 percent in 2009.
Income disparities over time can have a significant effect on the amount of money women are able to save for retirement. After 30 years, this translates into a 25 percent to 30 percent shortfall compared to that of a male worker with the same savings and investing pattern, the report found.
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