Why Women Outlive Men—And The Financial Implications

It’s no secret: women tend to live longer than men. In the U.S., the average life expectancy is about 81 years for women vs. 76 years for men (CDC). Those extra years are a gift, but they also present a new challenge— making your financial resources last through a longer retirement.

Why Women Live Longer

Longevity isn’t just luck—it’s rooted in biology, behavior, and even evolution.

• Biological factors: Estrogen helps protect the heart and may reduce oxidative stress, and having two X chromosomes provides genetic “backup” against harmful mutations (ResearchGate).
• Lifestyle differences: Women tend to smoke less, drink less, and visit doctors more regularly than men (Time Magazine).
• Health resilience: Studies suggest women recover more effectively from stress and illness, aided by hormonal and cellular differences (The Washington Post).
• Evolutionary theories: Anthropologists point to the “grandmother effect”—women who lived longer were able to help raise grandchildren, boosting their families’ survival rates (Wikipedia).

These influences may help explain why women often outlive men—and highlight the importance of financial planning that reflects that reality.

The Longevity Advantage (and Why It Matters)

Those extra years offer more time for travel, family, and experiences. But they also mean more years of expenses: healthcare, housing, leisure, and, often, long-term care.

And here’s something we don’t often talk about: nearly half of women over 75 live alone (U.S. Census Bureau). That means you’re not just planning for a long retirement—you’re planning for the possibility of managing it independently.

The Financial Impact of Longevity

Here’s what longevity looks like in practice:

• Healthcare costs: Fidelity estimates that a 65-year-old woman will need about $172,000 for medical expenses in retirement—and that’s not even counting long-term care (Fidelity).
• Career interruptions: Many women step out of the workforce to care for children or aging parents, reducing both earnings and retirement contributions (AARP).
• Social Security timing: The longer you live, the more valuable delaying benefits becomes. Waiting until age 70 instead of 67 increases your monthly check by about 24%—income you’ll receive for the rest of your life (Social Security Administration).

Illustrative Case Studies

These aren’t real client stories, but here are a few examples to show how different decisions can play out:

Maya, the Long-Term Planner

At 62, Maya maps out a 30-year retirement. She divides her plan into buckets: everyday living, healthcare (using the $172K benchmark), and long-term care. By separating expenses, she feels confident her lifestyle is covered—even if unexpected needs arise.

Elena, the Smart Delayer

At 66, Elena decides to wait until 70 to claim Social Security. Her monthly check increases by nearly $500. If she lives into her 90s (and many women do), that decision could mean more than $100,000 in additional lifetime income.

Renee, the Caregiver

At 54, Renee takes two years out of the workforce to care for her mother. When she returns, she uses catch-up contributions, sets her 401(k) to automatically increase 1% per year, and adds a spousal IRA. Those steps keep her retirement savings on track despite the gap.

Making Your Money Last

So, how can you try to plan for your money to live as long as you do?

• Invest for growth. Even in retirement, you’ll want some growth to keep pace with inflation.
• Build reliable income streams. Social Security, pensions, annuities, and smart withdrawal strategies all help provide stability.
• Prepare for healthcare and long-term care. Fund these separately—through savings, insurance, or hybrid solutions—so they don’t derail the rest of your plan.
• Plan for independence. Legal documents, trusted contacts, and a clear financial roadmap help ensure you stay in control of decisions later in life.

As a CERTIFIED FINANCIAL PLANNER™ professional, I see the impact longevity has on women’s financial lives every day. Living longer can be a tremendous opportunity—but it requires a thoughtful plan that accounts for the unique realities women face.

Interested in creating a plan designed for your retirement timeline? Book a complimentary consultation with me to talk through strategies for Social Security, healthcare, long-term care, and more: https://calendly.com/winstone-wealth-partners/financial-consultation-with-lauren-smith

Please Note: Any opinions are those of Lauren Smith and not necessarily those of Raymond James. Examples given are for illustrative purposes only. The information has been obtained from sources considered to be reliable, but we do not guarantee that the foregoing material is accurate or complete and does not constitute a recommendation.  Past performance may not be indicative of future results.  Future investment performance cannot be guaranteed, investment yields will fluctuate with market conditions. Investing involves risk and you may incur a profit or loss regardless of strategy selected. Every investor’s situation is unique and you should consider your investment goals, risk tolerance and time horizon before making any investment. Please consult with your financial advisor about your individual situation. While we are familiar with the issues presented herein, as Financial Advisors of Raymond James, we are not qualified to render advice on tax or legal matters. You should discuss tax or legal matters with the appropriate professional.

Certified Financial Planner Board of Standards Center for Financial Planning, Inc. owns and licenses the certification marks CFP® and CERTIFIED FINANCIAL PLANNER® in the United States to Certified Financial Planner Board of Standards, Inc., which authorizes individuals who successfully complete the organization’s initial and ongoing certification requirements to use the certification marks.