Men And Women Economic View Point

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In the society that we live in today, we are expected to be able to support ourselves during every period of our lives. Sometimes we have low earnings due to a sickness, disability, unemployment, child rearing, and old age. It is merely impossible to be able to support ourselves with situations like these. At times, the money needed to support ourselves after retirement is not sufficient. This industrialized country it is said to have a state model in the form of “pay-as-you-go”, however; Social Security is not a “pay-as-you-go” plan. Social Security is intended to financially support men and women alike at the time of retirement. Social Security has the money needed for retirees. It is unfortunate that gender plays a major role in Social Security pensions. The retirement income for men and women is not the same, Women’s benefit computation, based on social security, compared to men’s is more favorable towards men. This is because women, on average, live longer than men. Next, women have lower pay compounded by fewer working years. Third, Social Security statistics favor men. Last, a husband’s pension does not guarantee a wife’s financial security and saving more than men is needed just to catch up (Estrine, Judith 8). Women should be financially secure as they get old just as men are. Throughout the entire world, women are outliving men. In the United States of America, on average, women live about six years longer than men (Bureau of Labor Statistics). These women account for about sixty-five percent of the population over the age of sixty-five. Being able to live longer than men has its disadvantages. The women who make up sixty percent of the population over sixty-five make up seventy percent of the older people who are poor. Women are more likely than men to be poor during old age. It is proved that women over the age of sixty-five are twice as likely to be

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