Senior African American couple using laptop

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Women age 65 and older are much more likely to face financial hardship in retirement than their male counterparts—and older, minority, and unmarried women are at greatest risk of being impoverished.

This is according to findings in a new report by the National Institute on Retirement Security that takes into account out-of-pocket medical expenses and other factors in addition to income.

[Related: [Study] Women Are Feeling Financially Empowered]

Women are 80% more likely than men to be poor at age 65 and older. For women age 65 and older, their typical income is 25% lower than men. As men and women age, men’s income advantage widens to 44% by age 80 and older. Senior women who never married have a high poverty rate at 29%; senior men who never married have a poverty rate of 21%. As women get older, they also become more likely to live in poverty, 17% of women between the ages of 70–79 and 22% of women 80 and over are in

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Source: Black Enterprise » Small Business