Only 30 percent of boomer women and 13 percent of Generation X women have high levels of confidence in acquiring enough savings for a comfortable retirement, according to research from the Insured Retirement Institute.
"Until we see more women feeling better about their household finances and the economy, we do not expect to see high levels of confidence in retirement prospects," said Cathy Weatherford, president and CEO of the IRI. "More women have stopped contributing to their retirement accounts than have increased their contributions. This is not a recipe for retirement security."
The study — culled from information from three surveys of American women and their approach to retirement savings — shows that the majority of women surveyed don't consult with a financial advisor. Generally, those investors that do access financial advisory services have better saving habits.
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