Older Women Report Facing a Financially Uncertain Future

TitleOlder Women Report Facing a Financially Uncertain Future
Publication TypeReport
Year of Publication2020
Series TitleRetirement Security
Document NumberGAO-20-435
InstitutionUnited States Government Accountability Office
CityWashington, D.C.
KeywordsFinancial security, Retirement, women

In all 14 focus groups GAO held with older women, women described some level
of anxiety about financial security in retirement. Many expressed concerns about
the future of Social Security and Medicare benefits, and the costs of health care
and housing. Women in the groups also cited a range of experiences that
hindered their retirement security, such as divorce or leaving the workforce
before they planned to (see fig.). Women in all 14 focus groups said their lack of
personal finance education negatively affected their ability to plan for retirement.
Many shared ideas about personal finance education including the view that it
should be incorporated into school curriculum starting in kindergarten and
continuing through college, and should be available through all phases of life.

Citation Key11066