Pin Money Club

[oh no, you didn’t] 

When I was a kid I used to play handball; when I would leave the house to go play, my mother would say: “Let the boys win Cherith.” Well, as you might have guessed, that only made me more determined to win (and, P.S., I did most of the time).

So when I read the results of a new research study out today that show women are behind men in retirement planning I was freshly miffed! The study found that 56% of all baby boomers (age 44-62) say they are less confident than they were three months ago that their retirement savings will last them through retirement but women are less confident and further behind…

-Among adults of all ages, men are more likely than women to have retirement savings (78% vs. 70%).

-Compared to male baby boomers, female baby boomers are much more likely to say they have less confidence in their retirement savings (61% vs. 49%).

-Among those who have changed or plan to change their retirement savings, more baby boomer women than men say they have or will buy long-term care insurance to protect their assets (18% vs. 7%). Clearly we ladies understand that we will live longer than the men (OK, score one for us here) and that we have to figure out how to not outlive our savings!

So girls, don’t let em win…keep saving as much as you can. For some good general retirement planning help, including “Five Tips for Retirement Planning,” visit www.longevityalliance.com.