Women traditionally have lower levels of confidence in their financial security and are less optimistic about their retirement preparedness than men, but young women are challenging that trend.

Nearly six in 10 Gen Z women said they believe they will be financially prepared for retirement, according to Northwestern Mutual’s 2023 Planning & Progress Study. That is a significantly higher proportion than women in other generations, including Gen X women who were least confident in their retirement preparedness with only 38% saying they will be financially prepared when they reach retirement.

Younger women also showed a greater awareness that their financial plans need improvement, with 79% of Gen Z and 76% of millennial women saying their financial planning could improve. In addition, younger generations of women are more likely to prioritize saving over paying down debt than their older counterparts, the study found.

Complete your profile to continue reading and get FREE access to BenefitsPRO.com, part of your ALM digital membership.

Your access to unlimited BenefitsPRO.com content isn’t changing.
Once you are an ALM digital member, you’ll receive:

  • Critical BenefitsPRO.com information including cutting edge post-reform success strategies, access to educational webcasts and videos, resources from industry leaders, and informative Newsletters.
  • Exclusive discounts on ALM, BenefitsPRO magazine and BenefitsPRO.com events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com

Already have an account?


© 2023 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.


Join BenefitsPRO

Don’t miss crucial news and insights you need to navigate the shifting employee benefits industry. Join BenefitsPRO.com now!

  • Unlimited access to BenefitsPRO.com - your roadmap to thriving in a disrupted environment
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com
  • Exclusive discounts on BenefitsPRO.com and ALM events.

Already have an account? Sign In Now
Join BenefitsPRO

Copyright © 2023 ALM Global, LLC. All Rights Reserved.