When we were young, they fed us, clothed us, rocked us to sleep and cleaned our dirty bottoms. As we grew older, they bandaged our cuts and scratches from our many exploits and adventures. They were our #1 cheerleader in the stands, even if we were standing on the sidelines. They cooked our meals, made our beds, washed our clothes and always made sure our friends knew they were welcome with an extra plate on the dinner table. Where would we be without Moms?
Women have been the silent CEOs of family life for many years, and they are awakening to a new reality that is forcing them to also assume the role of CFO in their household. That reality is retirement.
You’ve seen the statistics. For more Boomers today, retirement will be a 20-to-30 year marathon, not a 5-to-7 year sprint. The woman who sat quietly while the man of the house spent time with the financial advisor and “talked shop” is now coming to the realization she will most likely outlive her spouse by five years or more, with one in four women expecting to live to the age of 90 or longer.