The disparities in earnings throughout their careers are causing a 25% to 30% retirement savings shortfall for many women, according to a recent study. Not only does the wage gap play a part, but women are also more likely to be caretakers, resulting in time out of the workforce. This results in lost or decreased wages and lower Social Security benefits. Women simply have less saved for retirement. More than 43% of surveyed women expect to work until age 65 or later, and more than 34% do not know when they will be able to retire. One quarter of women surveyed do not believe they are planning appropriately for retirement.
Read full article here: Income Disparities Produce Retirement Income “Glass Ceiling” for Women