Boomer Market Advisor recently published some interesting statistics pertaining to women and retirement planning. According to the Pew Research Center, 52 percent of adults between the ages of 50 to 64 who are employed full time have thought about delaying retirement, with 6 in 10 women in this group reconsidering when they will retire compared to 45 percent of the men.

An even scarier trend, according to the Women’s Institute for a Secure Retirement, is that nearly 40 percent of women living alone depend on Social Security for almost all their income, and more than 50 percent would be living in poverty if it were not for their Social Security benefits.

The sad fact is that not enough people, especially women, are taking advantage of the planning and retirement products available through the professional insurance adviser. Mortality tables show that women age 65 can expect to live, on average, an additional 20 years while men age 65 can expect to live an additional 16 years.

Life insurance and lifetime income annuities may make the difference between a comfortable life in later years vs. a financially stressed existence. The appropriate use of income annuities and life insurance with its cash values and death benefits can help insure that money is available when it is needed most.

Similar Posts:

Share