AARP Eye Center
Women worry much more than men do about running out of money in retirement. But fear of impoverishment hasn’t dampened women’s desire to work for free. That’s one of the takeaways from a report issued this week on the challenges women face in retirement.
Forty-six percent of women are “not too confident” or “not at all confident” in their ability to fully retire with a comfortable lifestyle, according to the study published by the nonprofit Transamerica Center for Retirement Studies. In contrast, only 31 percent of men are similarly pessimistic, the TCRS reports, based on a poll conducted last summer and fall of 6,372 U.S. workers.
AARP Membership — $12 for your first year when you sign up for Automatic Renewal
Get instant access to members-only products and hundreds of discounts, a free second membership, and a subscription to AARP The Magazine.
Reflecting the same gender differences, just 12 percent of women told the TCRS that they were "very confident" they’d retire comfortably, whereas 24 percent of men had a sunny outlook.
Despite their financial worries, women are much less interested than men are in making money in retirement. Thirty-five percent of men said that after they retire, they’d like to start a new career, launch their own business or continue working in their field. But only 25 percent of women are similarly inclined.
A slightly higher percentage of women (28 percent) said they’d like to do volunteer work in retirement, compared with 24 percent of men.