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Why American women are bearing the brunt of the retirement crunch
For Anna Rappaport, a 74-year-old actuary who has worked in retirement planning for nearly 40 years, the fact that roughly 1 in 3 baby-boomer women is either divorced or was never married to begin with is not evidence of some larger fraying of American family values. For her, it’s a problem of math.
“If you take a married woman’s retirement income and then subtract her husband’s Social Security and retirement savings, the problem becomes pretty obvious,” says Rappaport, who lives in Chicago and has been a member of the Society of Actuaries for more than 50 years. “The amount that women get from their own savings and Social Security doesn’t begin to make up the difference.”
The strained American safety …