Chapter 11, Page 99
“The fate of boomer women could be worse than their predecessors’, as this generation spends more, acquires more debt, and is less likely to have traditional pensions, spousal benefits, or retiree health-care coverage.” Cindy Hounsell, President, Women's Institute for a Secure Retirement
Lastly, in her article “‘Out-of-Paycheck’ Retirement Programs: Will They Crack the Nest Egg for Baby Boomer Women?” Cindy Hounsell considers the adverse implications to baby boomer women’s financial futures as their generation spends more; saves less; acquires more debt; and is less likely to have traditional defined benefit pensions, spousal benefits, or retiree health-care coverage. The author examines how boomer women are more likely to be single, divorced, and widowed for a longer time than previous generations, and why older women are more likely to end their lives living in poverty. She recommends diverse strategies to boomer women to enable them to take control of their financial wellbeing and to plan for a longer retirement with more income.