(Nov. 9) Women face more financial woes in retirement than men, and for female farmers, retirement years can prove even more troublesome.

“Women who are farmers certainly don’t have that (retirement benefits) at all,” said Julie Wood, a spokeswoman for Americans for Secure Retirement.

Wood’s group released a study Oct. 27 reviewing reasons why women face tougher retirements. They are:

  • Women on average live longer than men, often alone for some duration of retirement.

  • Women on average spend less time in the workforce than men.

  • Women on average accumulate fewer employer-based retirement benefits from Social Security.

Solutions to these problems, according to the study, are:

  • Policymakers should enact polices to encourage women to plan for long-term economic stability.

  • Women should use retirement savings plans like lifetime annuities, which provide a steady stream of income.

Americans for Secure Retirement and Women Involved in Farm Economics advocate legislation pending in Congress, such as The Retirement Security for Life Act, which would encourage Americans to use lifetime annuities as a guaranteed source of income in retirement.

For more information visit the Americans for Secure Retirement Web site at www.paycheckforlife.org.