Gen Z women are closing gender gaps in 401k balances

Overall, men have 55% more money in 401k balances ($108,000 vs. $70,000) than women. But interestingly, among the youngest retirement savers in the workforce—Gen Z—women (up to age 26) have overtaken Gen Z men in total retirement savings, with 3% higher account balances on average.

Millennial women have just 80% of the average 401k account balance of Millennial men, while Gen X women have 65% of their male counterparts. Boomer women have 53% and Silent Generation women 33%.

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Author

Brian Anderson

Veteran financial services industry journalist Brian Anderson joined 401(k) Specialist as Managing Editor in January 2019. He has led editorial content for a variety of well-known properties including Insurance Forums, Life Insurance Selling, National Underwriter Life & Health, and Senior Market Advisor. He has always maintained a focus on providing readers with timely, useful information intended to help them build their business.