New Widows Have Another Concern: Their Finances

SINCE her husband died in November 2013, Janice M. Eiler, 58, has been juggling a life without his income as well as his companionship, even as she struggles to save enough money so she can retire comfortably in a decade.

Like many widows, Ms. Eiler, a workers’ compensation claims analyst in Salem, Ore., is finding that she is now more vulnerable financially. The household income for widows typically declines 37 percent after a spouse dies, far more than the 22 percent income drop that men experience, according to government figures. The assets of widows also tend to fall substantially more than widowers’.

Women also typically live longer than men. One in four women from 65 to 74 are widows, according to census figures. When women reach 85, three out of four are widows.

-The New York Times

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