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When it comes to elderly and social welfare, what are important factors limiting women from maximizing financial resources during retirement?

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There are several factors that may limit elderly women from maximizing their financial resources during retirement:

Gender pay gap: Women often earn less than men over their lifetimes due to various factors such as discrimination and segregation in the labor market. This means that they have less money to save for retirement and may have to rely more on social welfare programs to support themselves during their later years.
Caregiving responsibilities: Many women take on caregiving responsibilities for their children, elderly parents, or other family members. This can lead to career interruptions and lost income, which can impact their ability to save for retirement.
Longer life expectancy: Women tend to live longer than men, which means they may need to stretch their retirement savings over a longer period of time.
Lower Social Security benefits: Women often receive lower Social Security benefits than men due to the gender pay gap and the fact that they tend to have shorter work histories.
Lack of financial literacy: Some elderly women may not have the financial knowledge or resources to effectively manage their finances and make informed decisions about how to maximize their retirement savings.
It's important for elderly women to seek out financial planning resources and to be proactive about planning for retirement in order to ensure that they have the financial resources they need to support themselves during their later years.
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