How women
can take
control
of the
retirement
income
gender
gap
48
|
WINTER GARDEN MAGAZINE
|
DECEMBER 2018
W
BPT
omen are a force to be reckoned with in the economy. They
own 10 million businesses in the U.S., control an impressive
$11.2 trillion in investable assets and are increasingly the
primary breadwinner and financial decisionmaker in households.
But this clout is not carrying over when it comes to retirement planning.
According to the Prudential’s 2018 Financial Wellness Census, women
lag behind their male peers by an average of 43 percent in retirement
savings. What makes this trend even more worrying is the fact that
by age 85, women outnumber men by two to one.
When comparing balance sheets, men have an average of $203,000
saved up compared to the $115,000 saved by women, according to
the census findings. Only 38 percent of women are certain how much