Gender Gap in Financial Preparedness


The latest Retirement Fitness Survey reported about six out of 10 women felt worried (58%) and uncertain (61%) about planning financially for retirement. Married women appeared less prepared than their unmarried counterparts, with 39% vs. 27% not knowing how much they had saved for retirement (20% of married men and 28% of unmarried men reported not knowing their total savings). Only one in eight respondents had a detailed plan of how much they needed to save and how to reach that goal.

Women cited coaching and education about investing, in addition to a better evaluation of their expenses and where they can cut back, as resources that would improve their preparedness.

Source: Wachovia’s Retirement Fitness Survey, www.wachovia.com.

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