Men Vs. Women
Men are more likely than women to choose investments using their own research; 72% of them said they did while only 58% of women said the same. Sixty-three percent of women in the survey were likely to favor professional advice while only 49% of men were.
Women are also more concerned about retirement income than men. Sixty-five percent of the women in the survey said they are worried about having to generate their own retirement income while only 55% of men were.
Women also express less certainty about their environment. Forty-four percent of them said they are more likely to feel unsure about how much retirement income they need while only 30% of men said the same. And women are more likely to express concern about outliving their retirement savings, something 68% of them said while only 60% of men did.
Women are less likely to be on track for retirement and more likely to feel as if they should be saving at a higher rate.
The “Read on Retirement” survey, formerly known as the “DC Pulse Survey,” was fielded between March 25 and April 30, 2022, among 305 plan sponsors, 1,308 workplace savers, 1,300 individual savers and 300 retirees.