Women's Health Month: How Finances Affect Wellness

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What is the number-one reported factor for a happy and fulfilling retirement?

Good health.

Healthcare is the top financial concern for Americans and eight in 10 retirees list out-of-control healthcare costs as their most challenging problem. Although men and women share those concerns, recent data from the Social Security Administration shows that women have more cause to worry. In fact, one study showed that 65% of women were anxious about their finances compared to 54% of men.

The average annual Social Security income received by women aged 65 and older was just 78% of that received by men. This is due to lower earnings, which also means that women were able to save less through employer-sponsored retirement plans and their own retirement accounts.