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IRI: Confidence Gap Persist

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Women are less optimistic than men about the likelihood that they will have enough money to live comfortably throughout their retirement, according to a new report.

The Insured Retirement Institute (IRI), Washington, published that finding in a summary of results from a recent telephone survey of 801 U.S. residents ages 50 to 65.

IRI found that only 34% of women are confident they will have enough money in retirement, compared with 41% of men.

About 48% of the women surveyed said they are not knowledgeable about investing in securities, compared with 40% of men who gave the same response.

Other IRI survey findings:

  • Boomer women say guaranteed retirement income is the most important feature to look for when they are considering a retirement investment.
  • 71% of women think professional designations can be helpful when they are selecting a financial advisor.
  • 44% of the married women surveyed think they are doing a good job of preparing for retirement, compared with just 23% of the unmarried women.

- Warren S. Hersch

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