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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Nick Thornton
Nick Thornton is a financial writer covering retirement and health care issues for BenefitsPRO and ALM Media. He greatly enjoys learning from the vast minds in the legal, academic, advisory and money management communities when covering the retirement space. He's also written on international marketing trends, financial institution risk management, defense and energy issues, the restaurant industry in New York City, surfing, cigars, rum, travel, and fishing. When not writing, he's pushing into some land or water.
