Halloween is Cora's favorite holiday, and her enthusiasm for dressing up for this event hasn't diminished with age. Unfortunately, neither has her sweet tooth. Her penchant for sweets is so difficult for her to control at times that she has to muster up every ounce of self-discipline in her body to pass up the Trick or Treat bowl.

This craving for 'sweets' or the treats in life can hurt women in more ways than one. Sure, the weight, the cholesterol, and the skin problems can become an issue with chocolates; but the inability to pass up that daily latte or that extra DVD player may hurt your retirement as well. If you think I'm exaggerating, just take a peek at this study [PDF] commissioned by the White House on the issue of retirement security for women and the role of Social Security in supporting this retirement security.

If you think this is a recent report, you're wrong. It was commissioned almost ten years ago in 1998, and conditions haven't improved since then. In 1998, 25 percent of unmarried women used Social Security as their only source of income. According to a brief [PDF] issued by the American Academy of Actuaries this year, over 40 percent of elderly women depend on Social Security for more than 90 percent of their income.

This is a troubling trend, but one that was fairly predictable considering that Baby Boomers are reaching retirement age. The troubling portion of this increase includes the following statistics:

• Women tend to live longer than men, and this is a good thing for women. However, it's not good if living expenses become greater than your income.
  
  
• Women tend to have lower lifetime earnings than men, because they often take time for pregnancies and for raising families. Therefore, women tend to reach retirement age with less pension or retirement income.
  
  
• Divorced women comprise a growing share of the elderly population, and their poverty rate is higher than the overall elderly poverty rate.
  
  
• While poverty rates among the elderly have declined sharply over the past 50 years, a combination of increasing earnings inequality among today's workers, higher divorce rates, the erosion of defined benefit pension plans, and a lower Social Security replacement rate could raise poverty rates among the elderly in the future - especially among unmarried elderly women.
  
  
• In fact, according to AARP, more than one-third of single women 65-plus currently are classified as poor.

Many women over age 65 are widowed, divorced, or have never married, thus the 'single woman' focus in these reports. While married women over age 65 might live more comfortable lives during their retirement years, women who enter their retirement years as single individuals tend to be more prepared for living without that extra spousal income. Whether married or not, women might think about how they can support themselves during retirement without that man.

Women can work longer, if they can get back into the workforce. If you're over age 50, you can monitor AARP's "Careers after 50" site to learn more about how to increase your worth in the workplace. If you're under age 50, you might think about how you can plan your career to fit around family if you plan to have one. Many employers now offer childcare options and better access to retirement systems, so consider these benefits when you apply for a new job.

Women can also be creative about how they earn income in retirement years. While you may be bogged down with a career now, it's not too late to dream about other earning opportunities. What do you do for a hobby? Can you turn this hobby into an income-earning possibility? Can you turn your knowledge into a consultancy or a teaching position? Can you turn your bargain-hunting skills into a job where you can turn antiques or where you can become a personal shopper? You might keep an eye on Eccentric Employment for kicks and for a few ideas.

Life isn't all about work. You can have fun as you earn money, and you can be more relaxed if you control your 'treats' and expand your investments for retirement. If you want to get the most out of your 401K, you first need to open an account. Then, you need to contribute as much as possible each year, avoid withdrawals before retirement, and roll this 401K into another investment when you change jobs.

What about Social Security? Read the AARP story about this agency to learn that Social Security staff has decreased by 24,791 workers while the number of beneficiaries has climbed by 16.4 million. But, lack of timely service is just the visible fallout from the discrepancy in these numbers. The real story is that Social Security can't afford to replace those employees.

That information is scary, don't you agree? But, I wonder how many of us knew, deep in our hearts, that this agency wouldn't be there for us when we needed it most. What's worse is that Social Security may not be there for Cora at all when she's ready to retire.

We can provide ourselves with 'treats'; otherwise life would be pure drudgery. But, none of us need to be 'tricked' out of financial dignity when we retire. The real trick is to exercise self-discipline as we keep one eye on our futures because - ultimately - we're responsible for our futures. Keep medical bills low by working out and by watching the diet?think about other career options when the workforce pushes you out?and save for your retirement future now. It's never too late. And, as I remind my daughter - it's never, ever too early.

Until Next Week,
Linda Goin