Here are the 4 top pieces of advice about retirement planning that older women the GAO surveyed had for younger women...

4. Be frugal: Mentioned 36 times

3. Seek financial advice and education: Mentioned 42 times

2. Invest: Mentioned 51 times

1. Save: Mentioned 91 times

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Investigators from the U.S. Government Accountability Office (GAO) recently set up a wave of 14 focus group interviews, to find out what women over 70 are really thinking about retirement.

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Session group managers got 190 women to answer written questionnaires and talk about their fears.

The team included an open-ended question that gave the women a chance to say, in their own words, what advice they would give younger women about how to prepare financially for retirement.

About 163 of the women responded to that question. For a list of the four most popular answers, see the slideshow above.

The GAO also got the women talking about other matters. In 12 focus groups, for example, women reported having good experiences with seeking financial advice. In 10, however, some of the women reported negative experiences, such as receiving poor advice or paying high fees.

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