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Government's take on Women, Divorce and Financial Planning
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moonlight_sonata Offline
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Government's take on Women, Divorce and Financial Planning
I am researching financial planning and retirement saving at the moment and got a hold of this PDF issued by the U.S. government. Overall it's pretty good but it has specific section for women:

https://www.dol.gov/sites/dolgov/files/e...itness.pdf

Here are a couple of quotes:

Page 27:
Raising children
The U.S. Department of Agriculture estimates that it costs the average American middle-income family approximately $233,610 to raise a child to age 17.

Page 28:
Divorce
It’s important that you know the laws regarding your spousal rights to Social Security and retirement benefits. Under current law, spouses and dependents have specific rights. Remember, retirement assets may well be the biggest financial asset in the marriage. Be sure to divide those assets carefully. It’s also critical to review your overall financial situation before and after your divorce. Income typically drops for partners in the wake of a divorce, particularly for women.

Observation: the government assumes that most women will be stay at home wives. Is this accurate for the population at large? I have no reasons to doubt the government if it has enough data to back this statement up.

Page 29: Contains a whole section geared toward women and how they should think about saving for retirement. Basically it points out how disadvantaged women are when comes time for retirement. Here the bullet points:
  • Women tend to earn less than men and work fewer years.
  • Women stay at jobs for a shorter period of time, work part time more often, and interrupt their careers to raise children.
  • On average, women live 5 years longer than men, and thus need to build a larger retirement nest egg for themselves.
  • Some studies indicate women tend to invest more conservatively than men.
  • Women tend to lose more income than men following a divorce.
  • Women age 65 or older are nearly 50 percent more likely than men age 65 or older to live on an income below the poverty level.


What is your take on this? I'm not taking sides but doesn't the government collect good data to defend its arguments about women? It's in the best position to do so. And then wouldn't this cause the laws of divorce to reflect this observation which we currently see?
09-15-2019 03:37 PM
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Government's take on Women, Divorce and Financial Planning - moonlight_sonata - 09-15-2019 03:37 PM

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