Women Are 3 Times As Likely As Men to Neglect Retirement Savings
It's not a secret that women, on average, tend to have less money than men in retirement. After all, there's still a pretty significant wage gap plaguing the country, and while there are always exceptions, data tells us that women earn somewhere in the ballpark of $0.77 to $0.83 for dollar their male counterparts make. And since women don't command the same salaries as men, they typically have a harder time saving for the future.
But a new study from MassMutual confirms many women's worst fears -- that female workers are, in fact, three times as likely as men to say they can't afford to save for retirement. Case in point: While just 14% of middle-income men claim they don't have enough money to fund an IRA or 401(k), a whopping 44% of middle-income women are forced to neglect their long-term savings. And those that do might face untold struggles when they choose, or are forced, to leave their careers behind and navigate retirement without a financial safety net.
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Source: Fool.com
