Women Face Greater Financial Challenges in Retirement Than Men
Even if women face longer lives, they receive smaller pensions than men, according to the Social Security Administration (SSA). How so? Don’t we all work and pay taxes so we can earn more Social Security credits and receive a higher benefit during retirement?
Unfortunately, women are paid less than men. According to a 2021 Fidelity survey, the average total salary for women is only $27,165, compared to $43,703 for men.
This translates as a gender gap in pensions. A woman will face her retirement years with fewer benefits and thus serious financial challenges. In fact, the Social Security Administration shows that 12% of women over 65 live in poverty, compared to only 7% of older men.
This might be a wake-up call for you if you’re a woman. Financial advisors recommend investing wisely to avoid any money troubles and understanding what Social Security benefits you’re qualified to obtain.
7 thoughts on “Social Security: 7 Things Every Woman Should Know About”
Why do teacher who have retired under California social security rules don’t qualify for social security benefit’s?
i AM 90 YRS OLD, FEMALE
i START DRAWING MY S.S. AT 62 YRS . mY HUSBAND ID STILL LIVING AND 90YRS OLD. cAN i DRAW 1/3 OR 1/2 OF HIS SS
I am a widow I made more than my husband so I had to retire under my earnings, Is there anyway of any other ss for me since he passed six years ago? I am almost 73/
My husband passed in 2017. He would be 65 June 2023. I am his wife. I will be 60 Nov. 11 2022. Can I start collect his ssa in 2023 when he is 65?
You can file for survivors benefits at age 60. You don’t have to wait. I was going to begin drawing ss and keep working at 62. They came back to me and offered survivors benefits which were more than mine. My husband died at 55 in 2015. I could have been collecting for the last 2 years had I known. File for it baby!
I worked for Social Security for 37 1/2 years and retired in 2006. You can begin collecting widow’s benefits at age 60 if you are not working and earning more than the allowable limit. Check with your Social Security office – depending upon how much you and your husband each earned, you may want to switch from the widow’s rate to your own Social Security rate when you reach full retirement age or when you reach age 70.
I was married for 24 years and now divorced and
never remarried. Can I get social security from my ex husband. ? I collect STRS but never paid into social security.