This is a summary of an Article written by Kim Kiosaki (Wife of entrepreneur/author Robert Kiosaki)
The Statistics
- 47% of the women over the age of 50 are single. (This means they are financially responsible for themselves.)
- Women's retirement income is less than that of men because a woman is away from the work force an average of 14.7 years, compared to 1.6 years for men. This along with lower salaries, adds up to retirement benefits that are only about one-quarter of those of men.
- As of 2000, women are expected to live an average of seven to ten years longer than men, which means they must provide for those extra years. However, married women who are baby boomers can expect to outlive their husbands by 15 to 20 years, on average.
- Of the elderly living in poverty, 3 of 4 are women.
- Approximately 7 out of 10 women will at some time live in poverty.
Being dependent on anyone for your financial life can lead to a reduced sense of self-worth!!
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