The retirement crisis is going to hit one half of America harder than the other

American women will have a harder time of it in retirement than men, according to Sallie Krawcheck, a former Wall Street executive who founded, Ellevest, an online investing advisor for women.

In an episode of Hard Pass, a podcast I host with Josh Barro, Krawcheck said that women have a tougher time because "we live longer... and when we retire we have less money." 

There are a bunch of factors that contribute to this situation. Part of it is that women take more career breaks than men, another is that they tend to get paid less than men.

But there's more to the story than that, says Krawcheck. Women also just tend to outsource investing to their husbands. As such, Wall Street has always tailored itself to how men look at money.

"Women think of money not as a means to more money, but money as a means to accomplish goals," Kawcheck said. 

More from Krawcheck on Hard Pass below: