As you prepare for retirement, you’re likely focused on how you and your spouse will cross items off your bucket list, making many precious memories. You’re not likely to plan on losing your spouse; however, more than 50% of women and 25% of men are widowed by age 75.
As you age, the reality that one partner will pass before the other is inevitable. Typically, because women live longer than men and men are older than women at the time of a marriage, men are more likely to die first, leaving their wives facing an uncertain financial future. Women also earn less money than men and are more likely to take breaks from their careers for caregiving, meaning they have less in overall earnings and less in retirement savings.
