BMO Nesbitt Burns
2 St. Clair Ave. West
Women & Wealth
Research shows that gender strongly influences the path women and men take
to plan their retirement. While retirement is typically presented as a "couple” experience —
a stage of life that men and women share with their partners — the reality is that retirement is very often lived alone, whether by choice or as the result of divorce or the death of your spouse. In 2001, more than 1,500,000 women in Canada were living alone, more than double the total in 1971, and among them, senior women were the most likely to be on their own. By contrast, men who find themselves alone in retirement are more likely to find another partner.
There are unique challenges women face when planning for retirement. Along with the likelihood of living alone in old age, as already mentioned, the fundamental issues are that women work fewer years, earn less, live longer and tend to lack confidence in investing.
An understanding of the manifestation of these unique challenges can help you avoid or work around the barriers impeding your retirement plans.
For the full article click here.
If you would like to attend one of our quarterly seminars geared toward women investors, please contact Keeley Doherty for more information.