Women need a clear retirement plan that will allow them to take care of themselves without depending on a spouse or children.
The retirement gender gap is alive and well, according to the 18th annual Transamerica Retirement Survey.
Just 12 percent of American women are very confident that they can fully retire with a comfortable lifestyle, compared to 24 percent of men. Men were nearly twice as likely as women to have $250,000 or more saved for retirement, with one in five women reporting savings of less than $10,000.
Narrowing the savings gap is often difficult for women because of competing financial priorities. The 2018 Northwestern Mutual C.A.R.E. Study found that women are more likely than men to provide financial support with caregiving. They’re also less likely to address the costs of caregiving in their financial plan.
money.usnews.com
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