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Data indicate women woefully unprepared for retirement

By
  • Michael Cohn
Published
  • November 29 2012, 8:35am EST

Most Americans, particularly women, are woefully underprepared for retirement, with four out of 10 women having less than $10,000 saved, and only 21% having more than $100,000 in all of their investment accounts, according to research from Mintel.

Approximately 58% of single women over the age of 45 who have any kind of savings or retirement account have less than $50,000 saved, while only 22% have more than $100,000 saved. At the same time, these women are aware of their need to step up their savings efforts, as only 5% of 45- to 54-year-old women and 16% of 55- to 64-year-old women believe they are saving enough for their twilight years.

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