Saturday, July 26, 2008

Don't Worry Be Happy - But We Do

The MIT AgeLab has recently completed a large scale survey to investigate concerns about retirement. They have found large differences between men and women. The area where men are more worried than women is potential for being bored during retirement - there us women don't have many worries, but virtually on every other front we are more worried, and as the article says - probably with good reason.
The 3 primary areas where worries occur are: Inflation, Health, and Longevity. The researchers say it isn't unfounded worries given women tend to outlive their spouses, and a large number of women will end up living on significantly smaller incomes than men in retirement. Health, it suggests that women have to do a better job of taking care of themselves, much of their health energy is applied to looking after aging parents and their spouse. It's important to remember to take care of yourself. The final concern is about insuring they have enough assets to last them through their final days.

Increasing women's knowledge of investment funds, retirement funds, and working with financial planners is something that needs to happen. Yes, women do manage much of the money in the home and large financial decisions I haven't read of women's knowledge in long term planning happening. Potentially an area for growth.

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