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Mark Miller: Remaking Retirement

Five Ways for Women to Achieve Retirement Security

Women face distinct retirement-planning challenges, including higher longevity risk, less access to workplace retirement plans, and continued wage discrepancies.

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Mary Tooles should be on track to a secure retirement. She has a college degree and more than 10 years of experience working in operations management for major corporations, including  FedEx (FDX),  OfficeMax (OMX), and  Target (TGT). On paper, she's an ideal candidate to be socking away savings in workplace retirement accounts.

But Tooles left her position two years ago as a store manager at Target, where irregular, long hours competed with her growing responsibilities at home. A divorced mother of two who receives almost no child support, she also cares for her 88-year-old father, who lives with her and has mild dementia. She found a new position with more regular hours, but it pays one third less than her old job.

Mark Miller does not own (actual or beneficial) shares in any of the securities mentioned above. Find out about Morningstar’s editorial policies.