Men and women are preparing for retirement in very
different ways, according to research released by Ameriprise Financial.
from the New Retirement Mindscape City Pulse index indicate that
while men outpace women in planning for the financial aspects of retirement
(77% vs. 72%), women are more likely to say they have thought about what they
would like to do during retirement. Overall, 22% of respondents report
confidence in reaching their retirement goals, but men are more likely than
women to report this sentiment (25% vs. 19%).
than half of men (54%) report setting aside money in their own investments
(such as stocks and IRAs) compared to 46% of women who say they have done the
same. Men are also more likely than women to report that they have determined
the amount of income needed in retirement (31% vs. 20%).
said this additional financial preparation may be one reason men are more
likely than women to say they feel on track for retirement (41% vs. 34%) and
express confidence in their overall financial futures (22% vs.
are more likely to report that family and health take a prominent role in their
planning. They are more likely than men to say they plan to spend more time
with family during retirement (41% vs. 34%) and that proximity to family is a very
important factor in determining where they will retire (40% vs. 27%). They are
also more likely than men to place importance on their proximity to friends and
other retirees (21% vs. 13%).