When it comes to retirement savings, women have been lagging behind men. Just how bad is it? In retirement, women are 80 percent more likely to live in poverty as compared with men, according to AARP.
And, the pandemic has made this disparity even worse. According to an analysis from Age Wave and Edward Jones, the pandemic drastically altered the retirement plans of approximately 69 million Americans.
The report indicates that about 32 percent of Americans planning to retire will do so later than they originally imagined due to the pandemic. Only about 11 percent plan to retire sooner due to the crisis.
During the pandemic, women’s confidence in their retirement savings accounts took a nosedive and hasn’t fully recovered. On the other hand, men’s confidence in retirement savings improved.
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