YOUR FINANCIAL WELLNESS

Women are not as confident about financial wellness as men, are less prepared for retirement, and engage in fewer employer-sponsored financial programs. Most women earn less, live longer, experience more work gaps and experience higher health care and caregiving expenses than their male counterparts, leading to far different results when it comes to retirement savings:

• Women make less money than men. The average earnings of women working full time are 80.5 percent of men working full time–a more than $799 billion difference annually.
• On average, women live five years longer than men, thus needing their accumulated wealth to last longer. However, only 54 percent of women save for retirement (versus 62 percent of men), and those who do save have far less. Women have an average of $115,412 saved while men save an average of $202,859.
• Women accumulate more debt than men, especially student loan debt. While 56 percent of college students are women, they hold 65 percent of the country’s student loan debt.
• Women are less likely to work through all stages of life before retirement. Women spend 44 percent of their adult life out of the workforce compared to 28 percent of men.

Join us at Coffee and Conversation for some great ideas on how to secure your financial journey.