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Survey: Women Not Planning For Retirement

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NU Online News Service, May 15, 10:51 a.m. – Women are more interested in investing than they were 10 years ago, but they are still not doing much about retirement planning, according to a new survey by OppenheimerFunds Inc., New York, an affiliate of CIBC Oppenheimer Corp.

Researchers found that 59% of the women surveyed said they were more interested in investing than they were five years ago, and 77% said they knew more about the subject. Moreover, 64% said they had taken the necessary steps to prepare for retirement.

But only 38% said they work with financial advisors, only 41% participate in their employers’ 401(k) plans, and only 38% have individual retirement accounts or Keogh plans.

Meanwhile, only 14% of the women who were married or living with a partner felt responsible for preparing for retirement.

“Despite taking great strides towards financial independence?women remain largely uninvolved in issues critical to their long-term welfare, particularly investing and retirement planning,” Oppenheimer researchers conclude.