Retirement / General

Why women need to save more for retirement than men do

Women, on average, live five years longer than men. This means their retirement savings need to last them – on average – five years longer. It’s an important message that doesn’t seem to have hit home yet: women need to save more for retirement than men do. And, given the societal and workplace challenges women face, it usually also means they need to start saving at higher contribution rates earlier than men do.

The concept of retirement may need to be retired

Do you agree with the following statement: Millennials are needy and obsessed with technology; further, they don’t have a pressing concern about managing their finances and they are job hoppers.

Survey highlights women’s retirement insecurities

While there have been many strides in terms of gender equality, there clearly is more work to be done. A major study by the National Institute on Retirement Security (NIRS) found that women were 80% more likely than men to live in poverty.1

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