Founder of Guardian Wealth Management, David Howell, Opines on Retirement Planning Challenges Facing Women

PHILADELPHIA, PA, May 14, 2013

Retirement planning can prove a difficult and daunting process for all individuals, but, according to the founder of Guardian Wealth Management David Howell, women face many specific challenges as they seek to plan for their post-career life. A large part of this stems from the fact that, because women typically live longer, they need to plan for longer stretches of time than men do; in truth, however, there are several factors that contribute to the difficult nature of retirement planning for women. A recent Washington Post article addresses this topic in-depth; Howell has issued a press statement, responding to the article and to the issues it addresses.

"Many women are very vigilant in planning for their careers, but it is also important to plan for what comes after the career," Howell opines, in his press statement. "Retirement planning is of the essence, and lamentably, it is a bit more difficult for women than it is for men. This article lists some of the reasons why."

The first reason is the simple fact that, indeed, women typically outlast men. The life expectancy, at age 65, is 20 years for women, but just 17 for men. There is a 50 percent chance that a woman who is 65 today will live to be at least 85, the article continues, and a third of those women will reach 90. "For women who are healthy and have clean family histories, in particular, planning for the long haul is important," Howell notes. "You want to make sure your retirement savings outlive you, not the other way around!"

Joe Tomlinson, a financial planner who is quoted in the Washington Post article, agrees, exhorting women to build retirement plans around a life that lasts to at least 95. "This is one assumption you don't want to underestimate," he says.

Their own longevity is not the only retirement planning obstacle that women face. The Washington Post asserts that women are typically more conservative in their investment portfolios than men are. While women are less likely than men to suffer from a major stock market drop, they are also more likely than men to run out of money. Indeed, The Washington Post reports that 70 percent of men say that they willing to accept some risk in exchange for a chance at reward; for women, the number is less than half.

"Working with a financial planner is a great way to understand the hazards that come with having a too-conservative investment portfolio," concludes the founder of Guardian Wealth Management, David Howell.

ABOUT:

Guardian Wealth Management is an independent financial services company, providing a variety of wealth analysis and management services to clients in the UK, in the Middle East, and throughout the world. With several offices across Europe and the Middle East, and a large, dedicated team of financial professionals, Guardian Wealth Management is proud to offer retirement planning, education fund planning, and general financial planning services, as well as life and health insurance and beyond. The founder of Guardian Wealth Management David Howell, is a veteran of the financial services industry in the UK.