Women's lifetime earnings look different on average than those of men. Women are concentrated in low-wage or part-time jobs and can lack experience dealing with financial matters. They are more apt to drop out of the workforce to be a caregiver, resulting in more meager assets. Such reasons help explain why older women are flocking to job fairs and filling out applications in record numbers, experts say.Rubin quotes Cindy Hounsell, president of the Women's Institute for a Secure Retirement, who testified about the retirement gender gap before the Senate Committee on Aging, that as saying that it is a "startling post-retirement picture for millions of women who have worked their entire lives."
Source: "More working women find they can't afford to retire" Chicago Tribune (April 24, 2006) Need to register (free)