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Here’s How Wide the Retirement Gap Is Between Men and Women

Sep 15, 2015

…While both men and women face big retirement-savings challenges, the hurdle is higher for many women. To have a decent standard of living in old age, women, who earn on average 78 cents to a man’s dollar, need to save $126 for every $100 men do…


Customizing wellness with Financial Finesse

Sep 15, 2015

Since 1999, Financial Finesse’s mission has been “to help people from all walks of life become financially secure and independent.” To achieve this goal, Financial Finesse works with employers to develop highly customized financial wellness programs aimed at improving employee engagement, retirement preparedness and physical wellness by helping employees build solid financial foundations, implement plans for achieving financial goals and lower financial stress…


Gender Gap in Financial Wellness Report Finds 26% Gap in Retirement Shortfall for Median 45-Year-Old Employees

Sep 15, 2015

This year, our annual Gender Gap in Financial Wellness Report, Financial Finesse’s Think Tank examined the gender gap as it relates to the current shortfall in retirement savings. Using an example of a median 45-year-old man and woman, the Think Tank  found a 26 percent gap in the retirement savings shortfall and further, a “purchasing power” gap of 95 percent between men and women in terms of extra dollars needed to fund retirement expenses.

To download a copy of the press release, report and infographics, click on this news.


The ugly truth: Women have to work harder to catch up in retirement saving

Sep 11, 2015

You know that old saw about women having to work twice as hard as men? When it comes to retirement saving, it’s pretty much true — because they face handicaps that men don’t.

That’s according to a Financial Finesse report, “2015 Gender Gap in Financial Wellness,” which found that, although women are “slowly becoming better prepared for retirement,” there’s still a need for progress because “they face even higher hurdles than men due to longer life expectancies, higher lifetime health care costs, lower median savings and lower median income.”


How companies can help close the retirement savings gender gap

Sep 10, 2015

That there are gender pay differences within the American workforce is well established.

White House statistics say that full-time working women earn 77% of what their male counterparts earn. Translated, it means it takes about 60 working days to earn what men did by the end of the previous year.

The Pew Research Center’s estimate finds women earn 84% of what men earn, approximately 40 days for women to earn what men had by the end of last year…


Women in More Urgent Need of Savings Help than Men

Sep 08, 2015

A new study from Financial Finesse suggests that, in general, working women will need to save more—and at a much faster pace—than men to satisfy the average cost of expenditures in retirement.

The analysis found a 26% gap in the shortfall between men’s and women’s retirement savings. The analysis included a look at median incomes, deferral rates, retirement savings, life expectancies, and projected health care costs to determine how much the median 45-year-old man and woman would need to save in order to replace 70% of their income in retirement…


The Lifelong Effects Of The Gender Wage Gap

Sep 03, 2015

When men and women’s incomes and retirement savings are stacked up against their projected health care costs and life expectancies, women are much farther behind men. At the same time, women will end up needing to make their money stretch further.

A new report from Financial Finesse found that both genders won’t have enough to replace at least 70 percent of their income in retirement. But 45-year-old men today who will retire at age 65 will fall $212,256 short, while women will be behind by $268,404…


Retirement savings gap between sexes narrows, but women still lag

Sep 03, 2015

Women are lagging men in terms of retirement savings by a sizable margin, but that gap is shrinking. According to a soon-to-be-released study by Financial Finesse, a provider of financial wellness programs, there’s a 26% gap in retirement preparedness between women and men. While both sexes are projected to have a shortfall relative to what they’ll need in retirement, the situation is bleaker for women, who will be short $268,000 compared with men’s $212,000, according to the annual report, the 2015 Gender Gap in Financial Wellness. That calculation considers the shortfall in savings needed…


Paying for College: Election Edition

Aug 12, 2015

The Editorial Board recently pointed out that the Democratic presidential candidates Hillary Clinton and Bernie Sanders have announced plans to make college more affordable, while the only rumbling from the Republican camp so far is Senator Marco Rubio’s support for linking loan repayments to borrowers’ incomes…


Voices: Linda Robertson, on Helping Women Overcome Financial Stress

Aug 11, 2015

In 2009, a report published by our firm showed that a third of those polled were feeling overwhelming financial stress. In the following years, those numbers began to taper. But recently, despite the economic recovery, they’ve begun to rise again.

One demographic that has expressed particular stress when it comes to finances is women, age 30 to 55 with minor children, and make less than $60,000 annually. More than half of those women said they felt overwhelmed financially–40% more than similarly aged male parents in the same income group…