American Women Save Less for Retirement Than Their Male Peers

Many adults approaching retirement age may not be financially prepared to retire: 49 percent of adults ages 55 to 66 had no personal retirement savings in 2017, according to a study by the U.S. Census Bureau.

When we examine the data by gender, we find that about 50 percent of women ages 55 to 66 have no personal retirement savings, compared to 47 percent of men.

Women also lag men in the amount of retirement savings. Some 22 percent of women have $100,000 or more in personal retirement savings compared to 30 percent of men.

It must be noted that because 65 percent of men and 58 percent of women ages 55 to 66 are married and living in the same household with their spouse, the amount of retirement savings available is difficult to assess. Married couples plan their retirement together and save together.

Among women who were never married, 54.5 percent had no retirement savings. Only 20.2 percent had retirement savings of more than $100,000.

Filed Under: Gender GapResearch/Study

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