Siebert Speaks: Prep Women Better for Retirement American Banker (06/07/02) Vol. 18, No. 2 p.77; Duran, Nicole
Muriel Siebert, the first woman to gain a seat on the New York Stock Exchange, recently told the Senate Special Committee on Aging that there are a number of reasons why women find themselves in financial trouble when they retire. For one, she said, women live longer and earn 25 percent less then men. Family obligations and child rearing often interrupt their careers, which can diminish their Social Security and private pension benefits. According to the Women's Institute for a Secure Retirement, the net worth of single women ages 51 to 61 was 25 percent lower than that of single men of the same age range in 1998.