(Chicago, IL, Thursday, March 7, 2019) – This year’s International Women’s Day is on Friday, March 8, 2019. It is an important time to reflect on women’s achievements and the financial strides women have made over the years and an opportunity to raise awareness of how we as a society and individually can increase gender balance in a variety of areas, including finances.

Women overall still lag men in achieving financial stability for a variety of reasons, including:

  • Living up to five years longer than men (Kiplinger);
  • Earning less (MarketWatch);
  • Working fewer years or working part-time (often due to raising children) (MarketWatch);
  • Experiencing poverty at a higher rate — women ages 75-79 are three times more likely to fall below the poverty line than men the same age (The New York Times); and
  • Being a caregiver – on average, 60% of caregivers (adults caring for aging parents) are women. Female caregivers lose $324,000 in lost wages, social security benefits, and retirement plans over a lifetime (MetLife).

In order to help women reach their retirement goals and retire with a comfortable lifestyle, the National Association of Personal Financial Advisors offers tips for how women can enhance their savings and thrive financially.

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