Welcome to Scribd. Sign in or start your free trial to enjoy unlimited e-books, audiobooks & documents.Find out more
Standard view
Full view
of .
Look up keyword
Like this
0 of .
Results for:
No results containing your search query
P. 1
Fast Facts: Women and Retirement Savings

Fast Facts: Women and Retirement Savings

|Views: 117|Likes:

More info:

Published by: The Partnership for a Secure Financial Future on Dec 07, 2012
Copyright:Attribution Non-commercial


Read on Scribd mobile: iPhone, iPad and Android.
download as PDF, TXT or read online from Scribd
See more
See less





To: Fast Facts List
 Women have 38% less money saved for retirement than men,on average, ($108,000 vs. $149,000), according to an ING U.S. report released earlier this year.
The challenges keeping many women from accruing adequate retirement savings include:
Women have lower lifetime earnings.
Women earn 77 cents for every dollar earned by men, according
to the Women’s Institute for a Secure Retirement.
A 25-year-old woman with acollege degree will make about $523,000 less in wages over her lifetime compared to a man with a college degree.
Women take more time out of the workforce to care for family members. 
Women are in theworkforce for 12 years less than men, on average, primarily because they spent more time out of the workforce caring for family members, according to the Government Accountability Office.
Women live longer and outlive their spouses.
According to the Government AccountabilityOffice, 70% of women age 85 and over are widowed compared to only 24% of men age 85 and over.
Women set less money aside for retirement.
Women have planned for retirement less.
While nearly half of all men (49%) have calculatedhow much they need for retirement, only 36% of women have calculated their retirement needs,  according to ING U.S.
In the face of these challenges, financial services companies are offering innovative productsand services to help women plan for a secure retirement. Roundtable member company efforts include:
Women & Co., a free service to get women thinking and talking about personalfinance by providing a wide variety of engaging content, commentary and resourcesto helpwomen plan for retirement. According to a recent survey of professional women conducted byCiti with LinkedIn, saving for retirement was the #1 financial concern for women over 35.
helps women plan successfully for retirement using comprehensive and detailedwealth/financial plans. These plans include a cash flow analysis, which helps clients effectivelyallocate the funds needed for retirement.
support staff and advisors are trained to assist with women’s unique retirement
planning needs. ING Financial Partners, a network of 2,500 financial professionals including450 female advisors, offers seminars designed to help educate and encourage women to be moreproactive in their planning and saving.
In 2013,
will launch quarterly local seminars focused on women's needs includingretirement planning, education planning, business succession planning and other topics.
Principal Financial Group
offers resources through its website to help educate womenabout specific retirement savings strategies for their unique needs.
Raymond James Financial
has tools and resources to make retirement planning more engaging,collaborative, and easy-to-understand. This is critical to ensuring women understand thedecisions, trade-offs and opportunities they have in retirement.
works with women one-on-one through wealth advisors and outreach through women'snetworking organizations and seminars across their footprint.
State Farm
supports the research activities of the State Farm Center for Women and FinancialServices at The American College and is also building awareness through education with its
Make it Possible
financial workshops.
Center for Retirement Studies (“The Center”) focuses much of its annual
research on women. The Center offers actionable insights and recommendations to help womenof all ages to start talking about retirement planning and improve their retirement outlooks.
Wells Fargo Retirement
offers Beyond Today, a website with tools and checklists for women at different ages and stages. From the site, there is also a blog with stories from celebrity bloggers and women at Wells Fargo with perspectives on budgeting/organization, reinvention andplanning. Wells is also hosting a series of conversations with 
 and experts onretirement planning in a live webcast.
Western & Southern Financial Group
offers a variety of products to assist women in savingfor retirement, including life insurance, mutual funds, and deferred annuities.
The number one way women and men can increase their retirement security is by SAVING EARLY. The Roundtable published a white paper earlier this year
 , “ 
showing how individuals can put the power of compound interest towork in their favor if they start saving early.
The Roundtable delivers “Fast Facts” each week to select opinion leaders in the financial services industry,
Congress, and media.View all previous Fast Facts atwww.RoundtableResearch.org

You're Reading a Free Preview

/*********** DO NOT ALTER ANYTHING BELOW THIS LINE ! ************/ var s_code=s.t();if(s_code)document.write(s_code)//-->