Although working women are just as likely as men to save for retirement, they're less confident about their ability to plan—and more uncertain about how much income they'll need, according to a recent survey by the Employee Benefits Research Institute.
Let's fix that.
Lift head. Remove sand.
While most men said they'd need $1 million or more to retire, most women said they didn't know.
Women were more likely to say that they'd spend less in the first five years after retirement—while men assumed they'd spend more. (Guess who's probably right?)
Worse: 54% of men and women surveyed said that the total value of their household savings and investments (not including home equity or a pension) was less than $25,000.
Retirement planning can be daunting, but it's more terrifying to be 65 and broke.
Start contributing to an IRA or 401k, learn about your investment options—and next Wednesday we'll help you calculate the amount you need to save.
Hers vs. His Retirement Comments
- By MP Dunleavey
- May 05, 2010
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