January 24, 2012
--- 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%).