It might be stating the obvious, but experts maintain women are less financially secure for retirement than men. They’re likely to live longer, save less and generate less income. But analysts say there are specific steps women can take to sufficiently prepare for retirement – at least financially.
“Data reveals that the retirement gender gap is alive and strong,” said Ilana Boivie, NIRS policy analyst and author of “Shattering the Retirement Glass Ceiling: Women Need a Three-Legged Stool,” a new research brief released by the National Institute on Retirement Security.
“Our research indicates that women can shatter that retirement glass ceiling with a boost from a three-legged retirement security stool,” Boivie continued. “And given that the global economic crisis has drastically eroded retirement readiness, it’s all the more urgent that a policy framework is put in place to give all women a shot at achieving retirement security with a pension, 401(k)-type supplemental savings accounts, and Social Security.”