Retirement is Women’s New Financial Frontier

A newly-released national survey has found that women are focusing their attention on their financial future; specifically how to transition to the retirement years.  The Wells Fargo 6th Annual Retirement Fitness Survey, reveals that women are worried about having a secure retirement.  Here are some of the statistics the survey found.

  • Women are less optimistic about having a secure retirement: only 54% of women say they are “confident” they will have enough saved to “live the life they want” in retirement, compared to 62% of men.
  • Women have saved less than men: While both men and women are underfunded for retirement, women have saved less than men – a median of $20,000, compared to $25,000 for men.
  • Women have less confidence in the stock market as a place for investment gains: just 27% of women have confidence in the stock market, compared to 40% of men.

Harris Interactive Inc. conducted the study on behalf of Wells Fargo, interviewing 1,756 middle-income U.S. residents in their 20s, 30s, 40s, 50s and 60s, surveying attitudes and behaviors about planning, saving and investing for retirement.  The study was focused on women.