Why Divorced and widowed women retire early?
By The Exchange Team
When planning for retirement, married women should anticipate unplanned singlehood.
51% of divorced or widowed women retired earlier than intended, according to a recent survey. It's 42% for married people.
Divorced or widowed women report a worse retirement lifestyle than married women (26% vs. 18%).
The institute's analysis on women's retirement confidence is based on a poll of 2,677 Americans age 25 or older, 1,132 of whom were retired.
Unmarried women workers and retirees are less confident about retirement and have fewer salaries and assets, the survey reveals.
While some women retire early because their departed spouse left them a life insurance policy with large death benefits, many do so owing to family duties or health concerns.
Widows may also struggle emotionally with their spouse's death and wind up leaving their career as a result.