Money Alert: 3 Reasons As A Woman You Just Can’t Retire!

There are lots of potholes on the road to retirement particularly if you are a woman. At Vanguard one of the nations largest financial firms the average male customer has saved $121,000 in his retirement account. On the other hand, the average female customer has saved roughly $78,000. To catch up, women need to understand the burdens that they face and how to overcome them. Here are three roadblocks that can prevent you from retiring in comfort:

1. Women live longer: The average 65-year-old man can expect to live to 84.3-years-old. The average 65-year-old woman can expect to live until age 86.6-years-old. While living longer beats the alternative, it costs money. However, even if you are healthy you still may want to work as long as possible and keep saving.

2. While women are catching up, they earn less then men do which means that their nest eggs are smaller. Lower earnings also reduce the size of Social Security benefits when they retire. To get past this obstacle, start saving as early as possible.

3. Learn as much as you can about investing so that you can get the most from your retirement portfolio. Women tend to be a little less confident then men when investing. However, a little bit of knowledge goes a long way. Mutual funds are the easiest way to build a portfolio.