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eridani

(51,907 posts)
Sat Mar 19, 2016, 10:59 PM Mar 2016

In retirement, income gap worsens for women

http://justcareusa.org/in-retirement-income-gap-worsens-for-women/

We know that women earn 79 cents for every dollar men earn. A new report from the Institute on Retirement Security reveals that in retirement the gap in income widens. And, over time, the retirement income gap only worsens for women. As a result, women are much more likely to suffer financially in retirement than men.

Older women live on just three-quarters of the retirement income of men. As a result, they are 80 percent more likely to be impoverished than men. And, by the time women are 80, the income gap widens, with their median income just 70 percent that of men, $26,470 to $38,040.

Women receive one third less in retirement income from a pension, $12,000, than men, $17,856. And, they save 34 percent less in their 401(k) type retirement plans, $24,446, than men, $36,875. Because they have a longer life expectancy than men, they are at greater risk of depleting all their retirement savings.

On average, women receive lower Social Security benefits than men. Yet, for women with annual incomes under $80,000, Social Security is a key source of income. Without Social Security, almost half of all older women would be living in poverty. Social Security represents the majority of income for single, widowed and divorced women over 70.

Almost two out of three older adults living in poverty are women.
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eridani

(51,907 posts)
2. It is? Assuming you mean caregiver credits, which is a good idea. But the Pete Petersen dogwhistle
Sat Mar 19, 2016, 11:36 PM
Mar 2016

--is pretty alarming. Last heard the "help the poorer recipients" thing in 2010. What it meant then and still means is "Cut Social Security. Then add replacement money for those in the lowest quintile."

MisterP

(23,730 posts)
7. zactly: with inverted incentives like we have in our economy, there's little recourse for those
Mon Mar 21, 2016, 01:14 PM
Mar 2016

with goals of any sort

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