Research shows that women not only earn less at work and are more likely to take time off to care for children, they also incur lost wages of an average of $143,000 because of having to care for an adult. That compares to $89,000 in lost wages for men, according to Eleanor Blayney, [CFP®,] consumer advocate for the Certified Financial Planner Board of Standards Inc. and president of Directions for Women, a consulting firm.
All these financial factors make it more difficult for women to save enough for retirement. "Retirement is a gender issue and women need more financial security," Ms. Blayney said.
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June 14, 2012