How women can better prepare for retirement

5 ways women can become more proactive about creating a healthy retirement stash

Planning for retirement.
(Image credit: iStock.)

Women and men are well-known to approach finances in strikingly different ways, from how they spend to how they save. Unfortunately, when it comes to preparing for retirement, many women are jeopardizing their financial future.

A dizzying number of recent studies show that American women lag far behind men when it comes to amassing retirement savings. The 2016 Transamerica Retirement Survey found that men's household retirement savings are three times higher than that of women. A MassMutual survey reports that 44 percent of women interviewed said they can't afford to save for retirement, compared to 14 percent of the men. And the National Retirement Institute reports that women are 80 percent more likely to be impoverished upon retirement age.

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