Why Women Are Worse at Saving for Retirement

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Are women worse than men at saving for retirement? According to an article on loop21.com, women are increasingly the breadwinners in their households, but are worse at saving for retirement than their male counterparts.

Kimberly Friedmutter gives some expert advice on why this is and what women can do now, saying:

“Women typically watch after the ‘village’ not after ‘self’.” It literally takes a village to urge a woman to spend on herself, let alone to save for herself because we are nurturers by nature. Women are also positively driven versus negatively driven, meaning we don’t often see our futures as consequential. We overestimate our health and wealth, not fully believing in the rainy day.”