Copyright 2010 Dolan Media Newswires Long Island Business (Long Island, NY)
June 11, 2010 Friday
Study shows women, more than men, worried about saving enough for retirement
A recent study by AXA Equitable Life Insurance Co. has revealed that it’s women, more than men, who are worrying that they are not going to be able to save enough for retirement.
The study reported that 22 percent of women versus 11 percent of men have that specific worry. It also showed that only 28 percent of women were recovering the majority of their retirement savings investments, compared to 37 percent of men. As a result, 41 percent of women are “kept up at night” worrying about their eroding savings.
“The results show that women are conflicted,” said Barbara Goodstein, executive vice president and chief innovation officer at AXA. “They know the need to invest for potential growth so their savings can last 20 to 30 years of retirement, yet they lack confidence in their ability to invest so they aren’t doing anything. ”
June 18, 2010