March 6, 2017
Merrill Lynch financial advisor Missy Spickler speaks to FOX 2 Detroit
about the challenges many women must overcome when saving for retirement.
March kicks off Women’s History Month, and the history of women and money goes deepen than Harriet Tubman on the $20 bill.
More women are working than ever before and they make most of the family purchasing decisions. However, women may also need more retirement savings than men, but they fall short for a number of reasons including:
- Women usually live longer than men, which means they will need additional retirement saving
- Reduced earning power, as they are more likely to take time off to care for a child, spouse, or parent
- When women are out of the workforce for a significant time, three or more years, their earning power is reduced significantly. This results in less money for retirement and social security benefits
The original article can be found here published by Fox 2 Detroit