Women need to start sooner
Several studies have shown that women live longer than men, which may seem like a good thing but it can also be expensive! According to the Social Security Administration, a woman who is 65 years old today can expect to live until she is 86.5. A 65 year old man can expect to make it to age 84.
This roughly three years of difference might not sound like a lot but it is, especially when it comes saving for the retirement. So it is best to start planning your retirement as soon as you can.