A Costly Retirement Decision Many Women Make

“Women who retire when their husbands do may be giving up more wealth than they realize. Married women overall are still in their peak earning years in their 50s and early 60s, while married men’s earnings are on the decline, said economist Nicole Maestas, an associate professor of health care policy at Harvard Medical School and the author of a recent study about couples’ income and retirement patterns. As a result, married women typically sacrifice more Social Security wealth than married men when they retire early, said Maestas, who analyzed the University of Michigan’s Health and Retirement Survey of more than 20,000 people 50 and older… Earlier retirements also mean less time to save for retirements that can stretch decades… Women are 80 percent more likely than men to live in poverty after age 65, according to the National Institute on Retirement Security.” (CBS News)