A hidden retirement gap is costing women more than $5,000 a year

Women are facing a significant retirement shortfall, costing them over $5,000 annually due to the impending depletion of the Social Security trust fund, which could run out as early as 2034. This issue is particularly dire for women because they typically live longer and often have lower lifetime earnings than men, exacerbating their vulnerability. Unless Congress acts swiftly, the Old-Age and Survivors Insurance trust fund risks being depleted, which would severely impact the retirement income of millions of Americans relying on Social Security benefits.