While retirement is on the minds of many in this recession, how men and women think about the subject differs. According to a new study released by Ameriprise Financial on Monday morning, gender may have a huge impact on how consumers approach their retirement.
Women More Enthusiastic about Retirement
The new findings from the New Retirement Mindscape II (SM) study found that overall, women tend to feel more enthusiastic about reaching the retirement phase of their lives. In fact, 74 percent of women feel this way, as compared to 65 percent of men.
Also, when both genders actually reach retirement, it seems women actually enjoy it more. According to the study, while the number of men who are “enjoying retirement a great deal” has dropped since 2005, the number of women enjoying it has remained steady.
Recession Has Impacted Attitudes
The study noted that the main reason women currently have a better attitude about retirement is because the recession hasn’t had as negative an impact on them. Men experienced more job losses and career setbacks than women at the hands of the recession.
Unfortunately, women have suffered during this time as well. Their inability to save money like they had in the past has affected their confidence in retiring. However, the study found that despite confidence issues, women overall are more willing than men to retire if they’re family member is ill or their partner has retired.
How to Feel Better about Retiring
Both men and women are likely to have some apprehension when it comes to retiring in a touch economy. This is because, like many others have realized, if you choose to leave your job too soon, your retirement can go wrong.
However, proper retirement planning, including making wise and varied investment choices and contributing to retirement accounts regularly, will help you create a more stable environment to retire in. This could hopefully make you feel better about your choice so that you don’t later feel the need to get back into the workforce.
