Six in Ten Women Fear Running Out of Money During Retirement
A recent study “Women, Money and Power” done by Allianz Life Insurance looked at how changes in the workforce, family structure, lower pay for women, and other social roles have impacted women and their financial responsibilities. Women are also looking ahead to their long term financial responsibilities and how to plan for them.
The study found that almost half (49%) feel losing all their money and becoming homeless. The fear is strongest among single (56%) and divorced (54%). The thought of running out of money in retirement is what nearly six in ten (57%) say keeps them awake at night.
Several other studies confirm that women want easy to understand information. They want to be and feel they need to be a part of the planning process. They want straight forward and easy to understand language that explains the steps needed for a solid planning process. This is particularly true for planning for their long-term care needs
An educational, easy to understand booklet “Dignity For Life” can be obtained by contacting Nancy Gould, CLTC at firstname.lastname@example.org. Nancy is the co-author of “Dignity For Life” and is a specialist in planning for long-term care needs.