“For example, if a woman saves 10% of her income each year for 35 years (and gets 2% annual raises), it’s quite possible she would retire with $260,000 less in retirement savings than a man with the same savings patterns, says Lauren Locker, founder of Locker Financial Services in Little Falls, N.J. Add to that the fact that her Social Security checks will be much lower than a man’s, because they’re based on a calculation using a worker’s highest 35 years of income, and it’s easy to see why the income disparity “is a huge factor in how much [money] women will have in retirement,” Locker says.

Ms. Locker was our first SWS seminar speaker on the topic of Personal Finance!!!