When women know more, they save more—and that can help them close the gap in retirement savings between men and women.
A study from the Center for Retirement Research at Boston College has found that more workplace education on financial literacy has an effect that normal financial literacy education does not, spurring workers to budget and save more—and that’s especially true for women.
Women face obstacles that men do not when it comes to saving enough for retirement. Examples include lower-paying jobs, time lost from the workforce, longer lifespans—not to mention the fact that many have no exposure to retirement plans at work, particularly if they only have part-time jobs.
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