“The big fear society has is your standard of living is going to drop dramatically [in retirement]. And that’s what clients come to you and ask for help on,” says Diane Garnick, chief income strategist and managing director for TIAA (Teachers Insurance and Annuity Association). So what does the retirement data say? One of the most worrisome trends is the gender retirement gap.
More work needs to be done to close the gender gap across many industries. Raising awareness is one step along this path. On the eve of International Women's Day, Lauren Foster curates career resources to help you progress from "post fear" to the podium.
When it comes to retirement planning, it's important to take into account that women tend to have shorter work careers, earn less, live longer than men, and have less tolerance for risk, says Diane Garnick, CFA. Which is why it's essential to understand that "averages just aren't going to work."
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