Women's financial lives are something of a paradox: They live five more years on average than men and so need their money to last, but generally earn less. That's why estate planning for women is crucial, helping secure their retirement and protect their property and health in case they are disabled.
Women also tend to pull back from work during their peak earning years in order to take care of children or parents. When women become caregivers, they are 2.5 times more likely to end up in poverty and five times more likely to depend on Social Security, even as their average Social Security check is lower than that of their male peers.
