How Single Women Should Go About Planning Their Retirement
Women effortlessly slip in and out of each role and responsibility. But when it comes to financial security, they usually have to rely on a male member of their household.
According to census data, the number of single women has increased — from 51.2 million women in 2001 to 71.4 million in 2011. The reality is that women tend to live longer than their spouses.
Hence, the steep rise in the number of single women (unmarried, divorced, abandoned, and widowed), especially in India, warrants the need for them to attain financial security.
Hence, they seek employment.
But do they really plan for their retirement? Most of the women have jobs to give them financial security and for their survival. But building a retirement corpus still isn’t considered an important financial goal.