This week, a great article from Finanical-Planning.com was shared by one of my top advisors.
The article goes into great detail on advising women in retirement, and why they need annuities for lifetime income. From the article:
“We’re not talking enough about the number of women who are single in the retirement years. For starters, women live an average of three to four years longer than men, according to the IRI’s findings.
According to the report, today’s 65-year-old female has a 71% chance of living to age 80, compared with a 61% chance for males the same age… the longevity difference as long as five years. The reason could be divorce, or that many women marry men who are older than they are, and are widowed at some point. That has huge implications for women, the need for long-term care counseling is much greater among women in general and even more so among single women.”
This article stresses the importance of marketing and planning for women. As more and more boomers retire, the woman population will increase and have a substantial need in the marketplace.
Implement and Thrive.