5. Women have only $3,000 in total household emergency savings (median) to cover the cost of unexpected major financial setbacks.
4. Women’s top-cited financial priorities include saving for retirement (53%), building emergency savings (45%), paying off credit card debt (39%), saving for a major purchase or life event (37%), and just getting by to cover basic living expenses (36%).
3. More than four in 10 women (43%) are currently and/or have previously served as caregivers during their working careers. Among them, 85% have made work adjustments due to caregiving.
2. The “greatest” retirement fears among women include outliving their savings and investments (44%), Social Security being reduced or ceasing to exist in the future (43%), declining health that requires long-term care (43%), not being able to meet the basic financial needs of their family (38%), and cognitive decline, dementia, and/or Alzheimer’s disease (34%).
1. Women’s retirement dreams include travel (69%), spending more time with family and friends (61%), pursuing hobbies (49%), working (30%), volunteering (26%), and taking care of grandchildren (23%).
Amanda Umpierrez is the Managing Editor of 401(k) Specialist magazine. She is a financial services reporter with nearly a decade of experience and a passion for telling stories and reporting news. She is originally from Queens, New York, but now resides in Denver, Colorado.
