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Understanding the Growing Concerns
Many women in the United States are increasingly apprehensive about their financial security as retirement looms. Research from the National Council on Aging (NCOA) and the Women's Institute for a Secure Retirement (WISER) highlights a worrying trend: a majority of women aged 25 and older are not financially prepared for retirement. These concerns are compounded by years of earning less and taking time off for caregiving responsibilities, putting women at a disadvantage as they approach their golden years.
Key Findings from the Survey
The report reveals that women often feel 'uncertain' and 'worried' about their ability to manage health-related expenses in later life. Many low-income and rural women rate their health poorly, with significant numbers facing delays in healthcare and prescription refills. Financially, less than half of women have saved for retirement, with particularly stark figures among rural and low-income groups. The lack of confidence in financial planning for retirement paints a worrying picture for the future.
Addressing These Challenges
There is a call for bipartisan policy solutions to support women in achieving lifelong security. Recommendations include improving access to resources that facilitate better financial planning and healthcare access. These measures aim to offer women the confidence and security needed for a stable retirement, addressing both gender and socioeconomic disparities.
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