Women Outlive Their Spouses

Today 38% of women outearn their husbands and therefore, it is no coincidence that many women are also key decision makers at home. According to several studies, women also tend to be more financially decisive. Even so, women are more concerned with outliving their earnings and savings than their husbands are. When you take into account the fact that women almost always tend to outlive their spouses and couple that with the fact that only 38% of women have retirement plans, it makes sense.

The Average Cost

Additionally women must take into account common life events that will often happen to them such as divorce, childcare, job loss, and very often caring for an elder. Almost all of these life events can be financially draining and time consuming. This makes the concern for blowing through or outliving your savings very valid. If you plan to live long or simply just do chances are your going to need some sort of long term care eventually. This may leave you wondering how will I pay for it? The cost of long term care is expensive averaging about $91,980 for a semi-private room. Long term care insurance can be a feasible way to help you cover the costs of your future care now. Don’t leave your questions unanswered and research your options today.

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