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Why Women Need to Save More for Retirement

Everyone should be saving for retirement. But if you're a woman, you should be saving more than your male peers.

As of 2019, the average life expectancy at birth was 81.2 years for a woman and 76.3 for a man. If you're a woman who lives for the average amount of time, you'll need to fund an additional 4.9 years of retirement. You'll need a bigger nest egg to cover those extra years and ensure your account doesn't run dry while you're still relying on it.

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