Men are significantly more likely to report being confident or very confident about being able to maintain their current lifestyle after retirement than women, new research shows.
OneAmerica Financial Partners Inc., Indianapolis, discloses this finding in a summary of results from a retirement plan survey of 6,360 individuals, among them more than 2,100 baby boomers age 50 or greater. The survey was conducted by American United Life Insurance Co., a OneAmerica company.
Of those polled, 37 percent and 9 percent percent of men say they are confident or very confident, respectively, about being able to maintain their current lifestyle after retirement. This compares to 28 percent and 5 percent, respectively, of women who express confidence.
In addition to a gender gaps, the survey also observes a difference in retirement preparation among different age groups. On a scale of one to 10, where one is the least knowledgeable and 10 the most knowledgeable, significantly more respondents over age 50 score 7-8 (39 percent), or 9 (9 percent), than do younger individuals.