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While women make up more than half of the U.S. total population and they have grown to be 47% of the workforce, our financial needs are often neglected.1 We may make presentations, organize field trips or care for family members, but when it comes to planning for our financial well being, we can never seem to find the time, or the guidance, we need.

Amid the reality of lower earnings potential and longer life spans, women seem to plan ahead, earmark money for savings, and avoid costly knee-jerk reactions to stock market turbulence better than their male counterparts.

DeWolf, Mark, U.S. Department of Labor, blog dated March 1, 2017.


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Despite the numerous ways that women excel on the financial planning front, they still fall woefully behind in terms of actual savings.

  • On balance, men have amassed far more wealth than women, with the savings shortfall largely attributed to the gender pay gap. The effect of lower earnings is significant - not only does a smaller paycheck mean women have less money to save, but they also get a smaller employer match on their tax-deferred savings, which is typically based on a percentage of income.
  • Because of the wage gap, female workers contribute proportionately less to Social Security over the course of their careers, which often translates to a smaller benefit when they retire. A married women who never worked outside the home may be entitled to one-half of her husband’s Social Security benefit.
  • Other factors hamper women’s ability to feather their retirement nest egg, as well. For starters, women spend more time out of the labor force, caring for children and aging parents, which means they have fewer years to fund their retirement. Women also have a longer life expectancy. So they often have greater expenses during retirement, including more medical and long-term care costs.

At Centennial State Financial, we can help you address these issues and many more. For information about the services that we offer for women, please contact us by email or by calling 303-779-6500