Saving for Retirement: Men and Women Compared
1 page; PDF.
Source: Employee Benefit Research Institute (EBRI)

—Are men and women equally likely to save for retirement? Are there differences between men and women in contributing to a work-place retirement savings plan or having an individual retirement account (IRA)?

The 2008 Retirement Confidence Survey® answers these and other questions. Here are some of the results:

+ Men are more likely than women to say they and/or their spouse have saved for retirement and to say they are currently saving for retirement. These differences appear to result from differences in income. When men and women with similar levels of household income are compared, both genders are equally likely to report saving for retirement.

+ Employed women (58 percent) are as statistically likely as employed men (64 percent) to contribute to a work-place retirement savings plan.

+ Men and women are equally likely statistically to say they and/or their spouse have an individual retirement account (IRA) opened with money saved outside of an employer’s retirement plan, not money rolled over from an employer’s plan.

+ Women are more likely than men to have no savings at all. Twenty-five percent of women have neither retirement savings nor other savings, compared with 18 percent of men. However, women and men are equally likely to report having no savings when household income is controlled.

This entry was posted on Tuesday, May 6th, 2008 at 11:00 am and is filed under Age and Aging, Business and economics, Investments, Labor. You can follow any responses to this entry through the RSS 2.0 feed. Responses are currently closed, but you can trackback from your own site.