Women Fear They’ll Have Little Gold in Their Golden Years
Nearly 40 percent of women aged 30 to 55 are worried about spending their retirement years at or near the poverty level because they cannot adequately save for retirement, according to a recent survey.
The National Women’s 2005 Retirement Survey found that women of color are most concerned about their ability to save for retirement. While 53 percent of women of color report that they expect to live at or near the poverty level in their retirement years, just 33 percent of all men expect to face the same dilemma.
The survey was commissioned by the Heinz Family Philanthropies under the direction of Teresa Heinz, founder of the Women’s Institute for a Secure Retirement and chairman of the Heinz Family Philanthropies.
Here are some of the survey’s other key findings.
* Fifty-two percent of women expect to continue to work once they reach retirement age, including 57 percent of Hispanic women.
* Fifty-four percent of women have little to no money left to save for retirement once they pay their bills, rising to 62 percent among Hispanic and African-American...
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