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Even before the COVID-19 pandemic, many working Americans found it challenging to adequately save for their retirement. But when it comes to looking at retirement income, women face additional challenges to be able to successfully retire than just determining how much they should be saving or the correct investments to make.
So what causes this inequity? The primary reason is the gender pay gap. This pay gap eventually turns into a retirement wealth gap, per a recent study by the National Institute of Retirement Security (NIRS) "Still Shortchanged: An Update on Women's Retirement Preparedness."
The study used data from the 2014 Survey of Income and Program Participation (SIPP), a household-based survey featuring a nationally representative sample interviewed over a multi-year period.
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Heather Nevitt
Heather D. Nevitt is the Editor-in-Chief of Corporate Counsel and Global Leaders in Law.
