Women face far more obstacles on the road to retirement than men do, but these hurdles can be overcome with careful planning.
When it comes to saving for retirement, women have a much tougher mountain to climb than their male counterparts. The cards are stacked against women, especially if they opt to stay home to raise their family, and many women report they don't understand how to financially prepare for retirement in the first place.
On average, women have saved about half of what men have saved for retirement, according to a recent Student Loan Hero study. More troubling, 48% of the women surveyed reported that they don't even have a retirement savings vehicle, compared to just 29% of men who don't.
The good news is, with careful planning, it's possible for women to overcome these obstacles and save enough for a comfortable retirement. Here's a brief overview of the unique challenges women face when planning for retirement and how they can maximize their savings.
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