Difference in wealth for widows and widowers
June 26, 2019
I’m Miriam Neff-with STARTING OVER FINANCIALLY, and I’m Valerie Neff Hogan, and we’re here to talk about money
M Does retirement or financial planning look different for men and women? For sure. Women, on average, earn less than men, take more time out of careers, and live longer. Most couples don’t have a plan in place if one dies before the other.
V Half of widows face a 50% decline in income, most at least one third decline. More women do not have a spouse to care for them which increases caregiving costs. Widows reported that becoming the sole financial decision maker was even more difficult than adjusting to a loss of income. We are addressing this challenge.
M I can assure you that even if you lack confidence, you can learn. God is our helper and managing our finances can be fun.