It’s day nine of The Retirement Reality’s 12 Retirement Tips of Christmas. If you missed any of the previous tips, be sure to click here.

Nine Ladies Dancing – On the ninth day of Christmas, nine ladies came dancing. But ladies, if you want to keep your dancing shoes on throughout retirement, you need to make sure you pay even closer to your financial savings then your male comrades. Women work an average of 12 years less than men do over their lifetimes, often due to family care giving responsibilities, meaning they have 12 less years to prepare for retirement. What’s more, on average women have median earnings that are about $10,000 less than those of working men. These disparities lead to lower savings and retirement income and smaller payouts from Social Security, ultimately resulting in a greater risk of poverty in retirement. Meaning it’s a good idea for women to get serious about their retirement savings.

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