Why Older Women Face Greater Financial Hardship Than Older Men (55, moving)
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
I believe the issue is partly because most women don't start out in their 20's making financial decisions for future financial security as they tend to focus on getting married
That doesn't describe any of my kid's 20-something single women friends. Not a single friend or acquaintance matches that 1940s view of the world.
Another thing I might add is that women aren't willing to do those higher paying jobs that are difficult, demanding, and dirty. I worked a very difficult, dirty and dangerous job in a male dominated environment for many years and made a much higher salary than my female peers because I was willing to do this type of work. I worked shift work and I put in long hours. I worked night shift and weekends and holidays. I have financial security now as I approach retirement. How many women are willing to do this? Not many. They'd rather work in a nice office where they can't chip their nail polish.
Not everyone can be a lawyer, accountant or doctor. Women who don't go to college invariably choose jobs like grocery stores, waitressing or retail. My goodness. Don't they have any ambitions outside of getting married? There are a lot of better paying jobs out there.
Unfortunately, I am inclined to put my daughter into this category. When she found the man she wanted to be with that took priority over everything else. She did not complete college even though paying for it was not an issue for her. I made more than one attempt to at least get her to complete a certificate in some field that is available at a local community college. I was not successful getting her to do that either.
You are proof that not all women think with their heart instead of their head, but many do.
The experience was tough on my wife and I. I have concluded that only one part of success is intelligence and aptitude. An equally critical part is ambition. Some people just seem to have very little and its something I don't relate well too. My wife and I came from well-to-do families and much was given to us. Yet, we both always had a lot of internal ambition.
She seems content to work low wage jobs as long as she has "J" to come home to at the end of the day. It is a problem and I don't think it has an easy fix. In her case, I think its likely when DW and I pass away there will be an inheritance to see that she does end life dirt poor. It will come in the form of payments from a trust because I do not trust her to manage a large sum of money. Sad, but true.
I do think social security rules that allow for the lower paid spouse to take the higher paid spouse's social security benefit upon his/her death is a good rule. Women too often fall on the short end of earnings.
In a troubling picture, American women are looking at a rockier road to secure retirement than their male counterparts.
Many men and women fit into that picture. At the same time, there are also many men and women who don't, and have achieved financial independence and great retirements.
No one is born knowing how to read, write, work, or any of the hundreds of thousands of things humans master in a lifetime; smart, educated, motivated people tend to do OK and even much better than OK.
Another thing I might add is that women aren't willing to do those higher paying jobs that are difficult, demanding, and dirty. I worked a very difficult, dirty and dangerous job in a male dominated environment for many years and made a much higher salary than my female peers because I was willing to do this type of work. I worked shift work and I put in long hours. I worked night shift and weekends and holidays. I have financial security now as I approach retirement. How many women are willing to do this? Not many. They'd rather work in a nice office where they can't chip their nail polish.
Not everyone can be a lawyer, accountant or doctor. Women who don't go to college invariably choose jobs like grocery stores, waitressing or retail. My goodness. Don't they have any ambitions outside of getting married? There are a lot of better paying jobs out there.
Instead of beating around the bush - what line of work were you in?
Your knowlege of women and what they are willing to do and what not is profound
Walk thru a high end CCRC or go to a social function at one and notice that 80% of the residents are woman. Trying to paint a broad picture misses the fact that there is a great deal of variance amongst and within retirement sub groups.
The surviving spouse in our marriage is more than golden. WE are good now but the survivor is on true cruise control.
That doesn't describe any of my kid's 20-something single women friends. Not a single friend or acquaintance matches that 1940s view of the world.
Seems that now many college-educated women aren't necesarily spending their 20s looking for a husband though they may be dating. They are casually looking without much intention of actually getting married until close to, or into their 30s.
If they got a decent degree they could/should be spending that time getting a good or better job...possibly relocating to get that job before having a husband that might limit their options. In other words, living their "salad days" and finding/bettering themselves.
Of course that doesn't help all the women now that lived in different times with different expectations...if having a husband was a higher priority then hopefully that husband helped plan what would happen after he was gone. At least now, for example, a spouse has to sign off on the other if they want to end their pension benefits on their own death, etc. so they aren't completely blind-sided at the worst moment of their lives.
Instead of beating around the bush - what line of work were you in?
Your knowlege of women and what they are willing to do and what not is profound
I couldn't help but think of the woman who was lead on the team of people who worked on decontaminating our crawlspace. She was the first to put on a hazmat suit and inch her way around underneath our floor, documenting the many incursions (and feces, not to put too fine a point on it) made by the area wildlife. At some point, in addition to raccoons and rats we had rabbits living underneath our house. Rabbits!
I'm just grateful somebody was willing to do that and liked doing that. The woman back in the office told me she was their top performer.
Walk thru a high end CCRC or go to a social function at one and notice that 80% of the residents are woman. Trying to paint a broad picture misses the fact that there is a great deal of variance amongst and within retirement sub groups.
The surviving spouse in our marriage is more than golden. WE are good now but the survivor is on true cruise control.
Only a very small percentage of retirees can afford a CCRC. The widows of rich men are not representative of the general population.
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
