Financial services companies should do more to get baby boomer women to prepare financially to maintain their lifestyle in the future, according to speakers at a seminar organized by Prudential Financial, Newark, N.J.
Prudential organized the seminar to unveil the results of a recent survey of 1,007 U.S. women that focused on their financial knowledge, financial behaviors and confidence in attaining their financial goals.
Prudential has been conducting the survey every other year.
Although 53% of the women surveyed in 2004 said they intended to save and invest more money over the next 23 months, only 11% actually did so according to this year’s survey, Prudential executives said.
While 86% of women believe that maintaining their lifestyle in retirement is “very important,” Prudential found that 19% of the boomer category, the highest percentage of any group, thinks that “much of retirement is beyond my control.”