Study Finds Women Less Optimistic than Men about Retirement Finances

As reported by InvestmentNews, a CivicScience survey found that compared to men, women are less likely to believe that they’ll be richer than their parents upon reaching retirement. Overall the survey found that 40 percent of U.S. adults believe they will exceed their parents’ wealth by the time they retire while about a third of Americans anticipate having less wealth at retirement. The gender gap saw that 42 percent of U.S. women say they do not expect to retire wealthier than their parents, compared to 31 percent of U.S. men. It is known that many Americans doubt they are saving adequately to finance a comfortable retirement, with a significant portion expecting to work well into their retirement years. The survey showed a gender gap in that sentiment as well, with only 30 percent of women feeling at least “somewhat” confident about their retirement savings, compared to 45 percent of men. CivicScience also found that while men’s wealth expectations have risen by five points since July 2022, women’s expectations have remained unchanged.

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