Free Articles, Free Web Content, Reprint Articles
Monday, March 19, 2018
Free Articles, Free Web Content, Reprint ArticlesRegisterAll CategoriesTop AuthorsSubmit Article (Article Submission)ContactSubscribe Free Articles, Free Web Content, Reprint Articles

Women, Retirement and Social Security

Which of the ... are reasons that Social Security is ... to women:a) Women are less likely to have pensions when they ... Women live longer than men, ... chances of

Which of the following are reasons that Social Security is especially
important to women:

a) Women are less likely to have pensions when they retire.
b) Women live longer than men, increasing chances of outliving their
c) Women have average lower lifetime earnings because of pay-inequity
and time out of the work force to care for family.
d) All of the above.

The answer is d) all of the above.

Women are living well into the eighties and many will spend more years
in retirement than they ever did working. As you can imagine, this is
placing a tremendous strain on the Social Security system. One of the
best ways to be prepared for retirement is to prepare yourself.

"Forty-two percent of all women over seventy-five are living on less
than $13,000 a year, and when Baby-Boom women retire, only an estimated
twenty percent of them will be financially secure" according to a
special report titled "Why Most Women Can't Afford To Retire" in the
current issue of Ms. Magazine. It is estimated that only 20% of boomer
women (born between 1946 and 1964 will be financially secure in

Here's some wisdom for women planning for retirement:

1. Statistics show that 80% of women will need to take charge of their
own finances at some point in time. It is important for them to fully
understand their personal finances and investments. If you don't
understand your finances, ask your husband to explain them to you,
enroll in a class and your local community college or learning center
or check out some financially related books from the library.

2. It's never too soon to get started investing for retirement. The
sooner you get started, the longer you have to let your money work for
you. Don't put off saving. Just $25 a week starting at age 35 could add
up to $100,000 to your nest egg before retirement. Start now, automate
the process by having the money automatically deducted from your
paycheck before you have a chance to spend or even see it.

3. Whenever you take a job, always ask about their pension plan. Find
out how long until you are eligible, vesting requirements, will the
employer contribute to and/or match your funds and if so, at what
percentage rate?

4. Beware of taking Social Security early. Currently, the retirement
age for full benefits is 65, and the earliest age at which one is
eligible for benefits is 62. If you take your retirement benefits
early, the result is reduced benefits by as much as 30 percent for as
long as you live. The eligibility age for full Social Security benefits
has been revised from 65 to 67 years of age, to be phased in by the
year 2022.

Here are a few resources on Women and Social Security. Some sites
represent different viewpoints. It is good to be aware of the different
opinions and to realize that the more you can save for your own
retirement, the better off you will be regardless of what happens with
the Social Security System.

Interesting Links:

The Social Security Administration: To read about available programs
and to order a statement of your estimated future benefitsFree Reprint Articles, call (800)
772-1213 or check out their web site at

Take a Social Security Quiz:

Women's Social Security Issues:

Social Security Privatization Article:

More Social Security Issues:

Article Tags: Social Security

Source: Free Articles from


Doris Dobkins, Money Saving Expert
Author of "Financial Freedom A-Z Home Study Course"
and publisher of the free weekly ezine $mart Money New$
To subscribe, send an email by clicking on this link ->
or sign up at her web site:

Home Repair
Home Business
Self Help

Page loaded in 0.079 seconds