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Other Interesting Facts

Singles, Divorced, Women and Retirement Planning

 

Singles and Women today are especially vulnerable to the exposures of long term care and secure income for retirement years. The reasons are obvious from the statistics in the chart below. Certainly the sooner you start planning, the better even in mature years. There are retirement planning strategies that are conservative and safer, and others that are risky and more aggressive. 

 

It is not usually recommended that anyone over 60 invest aggressively with risky funds.

Shop for life insurance products that also provide long term care coverage. There are many ways to make your money work better for you when it comes to insurance dollars.

  

	Women	Men
Earnings History	$.59	$1.00
Earnings Now	$.72	$1.00
S.S. Benefits	$.63	$1.00
Savings	1.5%	3.1%
Retirement Plans	13%	33%
Retirement Benefits	$3,900 Yr.	$7,500 Yr.
Life Span	10 to 15 Years Longer

 

Net worth of Seniors 51-61 Surveyed according to USA Today 2/19/96

If a family member of any of these groups had 1 person go to a nursing home at the cost of $45,000 a year

 they could be wiped out in:

 
 

Whites	$263,000	5.8 years
Hispanic	$ 79,658	1.7 years
Blacks	$71,587	1.59 years

USA Today Report