Why are elderly women more likely to be in poverty then elderly men? After a lifetime...

Why are elderly women more likely to be in poverty then elderly men? After a lifetime of work and labor, why do some workers have inadequate pensions or no pension at all in their later years?

Expert Solution

1). Elderly women's have consistently experienced higher levels of poverty compared to men, especially single unmarried or divorced women.

Because as the increasing cost of living, they struggle to manage their usual routine ie.Kids education, house rent , daily expenses and etc. At the end they end with more than less sum money in their hand, which could not be enough to invest as a older age security.

Some time lack of saving, and financial investment planning ,they even don't invest in tax saving fund's, just to save tax on income. Which ultimately effect them at the later age. Sometimes women's are paid about about 15% to 20% less than men's. So these are the circumstances which make elderly women more likely poor than elderly men.

2) After a lifetime of work and labor, some workers don't have adequate pensions or no pension at all in their later years because the cost of living in this inflated society is to high, so people are unable to save a part of Income for there future.

ANd lack of financial investment planning, few people really don't know about financial planning and few just ignore it, they usually spend major part of their income and enjoy till they can.

Hence at the end, they end with inadequate pensions or no pension at all in their later age.

Rahul Sunny answered 9 months ago

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