Women in the U.S. are less confident about their ability to retire than men, with declining health and outliving savings topping their concerns, according to a new report by Northwestern Mutual.

Only 43% of American women feel financially secure, and just 44% think they will be financially prepared for retirement, according to the company's 2023 “Planning & Progress Study.”

This compares with 50% of men who feel financially secure and 61% who think they will be financially prepared for retirement.

"What our research tells us is that there is a gender gap in financial confidence," Tim Gerend, distribution officer at Northwestern Mutual, said in a prepared statement. "The impact of inflation and the worries people have about recession and retirement are felt unevenly, but they are significant for both women and men."

One area where the views of women and men diverge is Social Security, according to the survey. While 63% of men felt Social Security will be there when they need it, only 48% of women felt the same way.

When breaking down the results by age group, Gen Z women were more optimistic about their longevity and financial futures, but they expressed more concern than other groups about their lives in retirement.

For example, 39% of Gen Z women and 32% of millennial women believe they'll live to 100, compared with 23% of Gen Xers and 20% of those who are boomers or older.

Also, 59% of Gen Z women believe they will be financially prepared for retirement, which is higher than the percentage of millennials (43%), Gen Xers (38%) and those of boomer age or older who think so.

Gen X women were least likely to have a long-term financial plan, and most likely to say they won't be financially ready for retirement.

"The youngest women in our workforce seem to be tethering more of their identity and purpose in life to their relationships, interests and professional personas," Gerend said. "Retirement can be amazing, but it can also be disruptive and challenging for someone who gets fulfilled from success at work. That's why financial planning conversations with expert advisors aren't just about investments and insurance; they're also about the beloved people and causes that give our lives meaning and a purpose."

The study was conducted by the Harris Poll in February and March and included a survey of 2,740 U.S. adults.