W. Neil “Doc” Gallagher divides his time between responsibilities as CEO of Gallagher Financial Group and his work as a financial writer. Under the leadership of Doc Gallagher, Gallagher Financial publishes a blog that has covered a range of financial topics, including why women should start saving for their retirement much sooner than their male counterparts.

Though it is crucial for all individuals to save money for their retirement, it is even more crucial that women begin setting funds aside in their early adulthood. Life expectancy is the primary reason behind this suggestion. Women not only typically live up to 10 years longer than their male spouses, but they also have an average life expectancy of 2.3 years more than men. This means that they will ultimately require more money to accommodate any care-related expenses and other daily needs during their retirement.

Divorce is another reason women should begin saving for retirement as early as possible. With more than 50 percent of all marriages ending as a result of divorce, women must ensure that they will enjoy their own financial security down the road. Whether married or not, women tend to act as caregivers to those around them later in life. As a result, they must set aside funds for related financial obligations.