Statistics About Women in Retirement

March 14, 2023

With the average lifespan for Americans on the rise comes more time spent in retirement. While this is overall a great trend to see, it also beckons the need for a sound financial plan to account for the later stages of life – especially for women.

Women on average live longer than men but are less likely to feel comfortable making big decisions about finances. Traditionally, finance and asset management have been male-focused, but where does this leave women if they outlive their partner?

Only 37% of women have a financial advisor, and yet 90% of women will have to manage their own assets at some point in their life. What’s more, 70% of women with financial advisors will change advisors within a year of their partner’s passing.

It is crucial for women to have an active role and say in their finances as early in the planning process as possible, so that should the day ever come when they’re in retirement alone, they’ll be financially empowered with a strategy so they can enjoy a comfortable retirement.

Taking control of your finances can seem overwhelming. We get that, and that’s why we’re here to help you! We can help empower you on your journey to financial independence and security. Contact our office at (336) 450-2161 to ask any questions or schedule a complimentary consultation. We look forward to helping you!

(Source: 100 Must-Know Statistics About Women and Retirement | Morningstar)

Until next time!


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