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Savvy Senior

Retirement Planning Tips for Single Women

Dear Savvy Senior,

What retirement planning tips can you recommend to single women? I'm a divorced 58-year-old women with a teenaged son and have very little saved for retirement.

Financially Vulnerable

Dear Vulnerable,

It's an unfortunate reality, but many single women – whether they're divorced, widowed or never married – face much greater financial challenges in retirement than men.

The reasons behind this are because women tend to earn less money – about 82 cents for every dollar that men make, on average, and they have shorter working careers than...

 

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