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Recent widows need financial guidance after a spouse’s death

March 20, 2020

From the CNBC website

Like millions of American women, I’ve experienced widowhood.

According to the U.S. Census Bureau, as of 2019, there were almost 15 million widows and widowers in the country. About 77% of these individuals, or 11.4 million, were women. (Some widowed people later remarry, so the total number of individuals experiencing widowhood is actually larger — after remarriage, they are no longer classified as widowed.)

I was devastated as a new widow. This heartbreaking event happens to almost 1 million women each year. My husband passed days after my 60th birthday. I fit the norm. The Census Bureau reports that the median age a wife becomes a widow is 59.4 for a first marriage and 60.3 for a second marriage.

It’s a fact that women live longer than men. Indeed, half of widows over age 65 will outlive their husbands by 15 years. That means many years ahead to be responsible for personal and financial decisions.

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