If there was doubt why retirement products for female boomers have to be rethought, consider the findings of a new study: Women are still coming up short to cover their retirement needs.

Many investment products are still designed with men's needs in mind, despite studies that show women are more active in saving for retirement. (One 2015 study by Vanguard found that women are 14% more likely to participate than men in their workplace savings plan and once enrolled save at higher rates than men at all income levels.)

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