Newark, N.J. (June 16, 2003) -- While pre-retirees in general are optimistic about their financial future, women pre-retirees are much less confident about achieving retirement goals than men, a study by Prudential Financial Inc. revealed.
Less than half (48 percent) of women respondents are confident in their ability to achieve their retirement goals, compared to seven out of 10 of their male counterparts. Women were also more concerned about delaying retirement than the men polled and reported that they feel less knowledgeable about asset allocation, Prudential reported. Prudential's Survey of America's Pre-Retirees polled a 359 fulltime employed men and women between the ages of 45 and 60.
Seventy-three percent of men are confident their investments are on the right track, compared to just 57 percent of women. Forty-seven percent of women polled are worried about having to postpone retirement, compared to 32 percent of men.
More than two-thirds of men (71 percent) feel they have a good understanding of asset allocation, compared to 56 percent of women. And two-thirds of men are happy with their current level of household savings, compared to 52 percent of women, Prudential reported.
-- WebCPA staff
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