Just about everyone understands that women live longer than men - which is what makes the new retirement study from Wells Fargo, focusing on the needs of middle-class women, so problematic. The survey found that men estimated they would require $400,000 to fully fund their retirement, but that women estimated they would need only $200,000.
In reality, women are likely to need more money in retirement than men. Roughly three-quarters of all nursing-home residents are women. Maybe that's why just 52 percent of women describe themselves as confident that they'll live the life they want in retirement, while 62 percent of men feel that way.
The good news is, more than 80 percent of the women surveyed say they would welcome help in planning for their retirement. If you'd like to talk about how to prepare yourself financiallly for your retirement, feel free to give me a call.
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