Challenges Faced By Women After Retirement

While planning for retirement is essential for everybody, it is especially imperative for women. For example, although it is a huge undertaking for everybody to save money for retirement, the challenges and obstacles faced by women are varied and unique, which need to be considered while planning for their post-retirement life.

One of the most important factors to take into consideration is that women, on an average, have longer lives than men by about six years. This means, that compared to men, they will require extra money for their retirement. According to some studies made by demographer, most baby boomer women who are approaching their retirement age are expected to live well into their nineties. This implies that women will have to prepare for emotional and financial security during a retirement that could last more than thirty years, in many cases.

Another challenging factor typically faced by many women is spending less time in the work force. Studies show that on retiring, men put in 44 years of work on an average, while women account for just 32 years. The reason being that it is women who usually take a break from their careers to have and take care of their children, and sometimes even to look after aged parents.

Interruptions in the working life of women have important consequences financially. For example, when women stop working their Social Security contributions cease, which reduces their benefit from Social Security on retiring. It has been found that while men get $1008 per month as Social Security benefit on an average, women get just $774.

Interruptions to women's working life also results in making it harder for them to compete for raises in the salary and promotions. It is for this reason, along with others, that on average women are currently paid about 87 percent of men's pay on an hourly basis.

According to the Women's Institute for a Secure Retirement, women get about 50 percent less as pension compared to men. And even though they may be qualified to benefit from the pension schemes of their husband, these can decrease dramatically if the husband dies before the wife.

Besides, according to estimates made by the Securities Industry Association, as a consequence of various factors like women marrying later, increased rates of divorces and becoming widowed, women will usually spend more of their adult life being on their own financially.

Because of fewer working years and lower incomes, it is less likely for women to save for their retirement. According to surveys, compared to 65 percent of men saving for their retirement currently, only 59 percent women are doing it. This study also reveals that compared to 48 percent men who take part in retirement plans at the workplace, like 401(k), just 36 percent women do.

On top of all that, compared to men, women tend to invest more conservatively. Women, it has been found, have a lower tolerance for risk, which is why they have a tendency to invest more conservatively. Even though it may be wiser to invest more conservatively in many investment portfolios, being too conservative results in less savings and reduced investments for retirement.

Although women in America have made considerable gains socially, economically and legally in the past few decades, their working patterns and caring responsibilities still result in placing them at considerable disadvantage in the country's system of retirement.

© 2008 Anna D. Banks, GCDF

Anna D. Banks, a passionate advocate for baby boomers in exploring their priorities, planning and setting goals for the next stage of their lives. Assisting her clients to attract and build a professional and personal life consistent with their values is not just a goal of Anna's, it's her passion. Her diverse work experience in business, education and financial services enables her to help the diverse population of baby-boomers with their life, career, and personal finance coaching needs. Anna is currently Adjunct Faculty at Essex County College, where she teaches Career Development & Management.

Author's Note:

Do you have any questions about career development or lifestyle changes for Baby Boomers, which you think others, like you, would want to know the answers? Please place a post on http://www.annabanks.com or email your questions to me at Anna@AnnaBanks.com

The Women's Rights Movements And Its Startling Connection To Spiritualism

At the time when Anthony, Cady, and other like-minded individuals were fighting for women's equality, Spiritualism was also gaining momentum as a religion. This controversial belief system is usually thought to have started with the Fox sisters in 1848. At this time, the young sisters were living in a cottage in Hydesville, New York.

One evening, the girls began hearing a series of knocks and raps whose source could not be determined. After some time, they realized that the sounds were really attempts at communication, and the girls soon devised a code so they could understand. Using a predetermined number of knocks to indicate "yes" or "no," the sisters were able to ask questions and receive answers. What they learned was startling. The knocks, it seemed, were coming from the spirit of a peddler that had been murdered and buried in the cottage's cellar. Once word about the spiritual communication got out, the Fox sisters became quite famous. They traveled to New York City and other parts of the country serving as mediums who could talk to the dead.

During this time, Spiritualism as a religion began to take form, and there were soon several followers. Many of the people who associated themselves with Spiritualism were political reformers, abolitionists, non-Christians, and other who bucked the conventions of 19th century society. As such, they were often criticized and unfairly judged by mainstream America, who deemed them immoral atheists who were poisonous to the God-fearing public.

As Spiritualism attracted more followers, the women's rights movement also gained momentum, and women and other proponents of equality sought a platform where they could lecture freely and advance their unconventional ideas. Like the Spiritualists, the women crying out for equality were considered a controversial bunch and were also treated as social pariahs in most segments. Christianity, as America's primary religion, still viewed women as secondary to men. Of course the feminists disagreed wholeheartedly with this, and as a result, many turned their backs on the Christian churches. However, in spite of their lack of a formal religious affiliation many of them were still spiritual people who sought places where they could worship or pray without having to sacrifice their beliefs in female equality. Spiritualism became their answer. Because the religion was more open to these "radical" notions, it became a haven of sorts for people who didn't agree with the traditional ideas of Christianity and the mainstream public. Many of the women's rights movement's strongest supporters had ties to Spiritualism, including Susan B. Anthony, Elizabeth Cady Stanton, and Ascha W. Srague.

Though at first glance Spiritualism and the women's rights movement seem as though they would be unrelated, it is clear that at the height of the movement there were strong ties with the Spiritualist religion. With its more relaxed views on female equality and women's suffrage, Spiritualism was an attractive option for feminists and their supporters seeking an arena in which to speak.

If you would like to learn more about this topic, particularly where Spiritualism and the Fox sisters are concerned, visit http://www.ad-hoc-productions.com where you can find information about "Visions: True Stories of the Supernatural." This information and entertaining documentary will give you all the fascinating details.

Michael Keene is the producer of the award-winning documentary Visions: True Stories of the Supernatural. See the trailer at http://www.ad-hoc-productions.com/trailers.html

Baby Gender Selection?

Okay, before you attempt to track me down and beat me up because of my headline, I would like to say that I'm entitled to "my" opinion! I personally do not see the benefits of having kids... I don't see how they could contribute to my overall goal of financial freedom. Yes... I know... that sounds very selfish and blah blah blah... but hey! Who cares? Can anyone give me one financial benefit of having kids? I didn't think so...

Okay, back to the subject at hand... I am the oldest of 5 children... and I'm the only one without kids! (And I'm very heterosexual, so don't even think it!) Fortunately, this article isn't about me and my personal preferences... This article is actually about the topic of "baby gender selection". Does it really work? Or is it just another overly hyped scam? Well, like I said previously, all of my siblings have kids... (or puppies as I like to call them J) a total of eight kids! 6 boys and 2 girls! My younger sister is she has five children! Seriously... five! The weirdest this is that they are all boys! What a coincidence! Or was it? No... Actually is was very intentional... and till this way, I still can't believe it...

You see, my younger is a huge brat! She's very spoiled and has always referred to herself as the "princess". The princess has always gotten her way for as long as I can remember... and for as long as I can remember, I've always hated it! Even in deciding that she didn't want to have any girl children! Now, how selfish is that? The princess doesn't like other females because she fills that they are a threat and my "steal" all of the attention from her... (can you believe it) I'm very serious about this... anyway, so the question of the day is... how in the heck did she do it?

Well, I've asked her for years how she managed to actually have 5 boys and zero girls... and for years she's always given the same answer. "It's princess magic, now get out of my business!" This was extremely annoying... so I decided to use another source because the curiosity was killing me! I mean, not that I wanted to actually use her "secrets" for myself (gross...) but I just wanted to know! So finally, I asked her husband... He wouldn't really go into much detail about it besides telling me that she had a e-book that she got online a while back about baby gender selection. Supposedly, it had a 98 % money back guaranteed success rate in helping decide the sex of a baby... Jack Pot! I knew it she didn't have that kind of "luck"!

She still has never admitted how she actually did it... but I know her secrets now... and that's all that matters to me! Now, I can sleep a little better at night knowing that little Ms. Princess is also "little Ms. Perfect!"

Love you sis!

If you would like to get more information about Gender Selection, click here, or go to http://Choosemybabygender.com

Single Parenting Problems - Mothers As Single Parents In USA

Single mothers face a lot of problems while bringing up children in USA. Financial problems being the most important as ex-husband may not pay the court order money for child support. These mothers may not be able to do a full time job as a result they may not be able to pay for day care and may not meet the criteria for head start. Many are thus dependent on AFDC (aid to families with dependent children) or WIC (Women Infants and children). This dependence on welfare organization once established is difficult to break.

There are many reasons for the financial worries of single mothers. Although most ex-spouses fulfill their court ordered financial obligations regarding their children; a few of them do not comply with this court ordered support. The latter case not only results in extra psychological and physical burden on the single mother, it makes it difficult for her to fulfill the requirements of the child in regards to food and clothing. A lot of people may consider court ordered support as luxury; but on the contrary it is just enough to meet the requirements.

The children constantly grow so they require a regular supply of clothing and food. Education is not entirely free even in state schools. Similarly preschool children require child care, whereas day care is difficult to afford. More over the WIC or AFDC will not support the mother till the issue of court order is resolved. This means going back to the court again and making your ex-husband to pay either by wage garnishment or by any other legal way. It is not an easy task to find an ex- husband so the lone mother can do nothing than to rely on herself alone. This places the mother as well as the child in a danger of becoming homeless. These are the risks of single parenting.

It is difficult to afford daycare as they usually require up to $400 per month. Most lone mothers have to take a job. However with the daycare being so costly it may not be possible for the mother to work as well as look after her preschool children. The head start and the early start are good supportive programs but most of these mothers do not fall in the specified low income groups especially when receiving court support.

So they may not get any support from head start and have to bare all the expenses of daycare all by themselves. She might not get some help from the child's preschool also. Actually she belongs to the working community among poor. These and such are the problems faced by a single mum in America.

Short comings in the welfare system also effect these single mothers. These mothers are considered the same as any other poor social group by many federal and state programs which run WIC and AFDC. On the other hand these women are more likely to suffer from many psychiatric illnesses which then become a major hurdle in getting job or other financial assistance. As a result of which it becomes difficult for them to gain financial independence and they become permanently dependent on welfare.

As a whole the single mothers living in USA face problems which are quite different from others. It is essential that more funds should be allocated for them

Find out more help for single dad parenting and laws on parents rights from top single parenting for dummy resource portal at http://www.singleparentingfordummy.com