Retirement Security: Older Women Report Facing a Financially Uncertain Future

TitleRetirement Security: Older Women Report Facing a Financially Uncertain Future
Publication TypeReport
Year of Publication2020
AuthorsJeszeck, C
InstitutionU.S. Government Accountability Office
Keywordsgender, Gender Differences, gender issues, Retirement, retirement security, women
Abstract

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.

URLhttps://www.gao.gov/products/gao-20-435
Citation Key12253