Allianz Finds Women Less Confident About Retirement

When Allianz polled women about whether they considered themselves the chief financial officer of their household, 53% of women in 2025 answered yes, up from 49% of women in 2023, the last time the study was conducted.

While more women are taking on the finances of their household, most (52%) are feeling increased amounts of financial stress, according to the recent Women Money Power Study from the Allianz Center for the Future of Retirement, part of Allianz Life Insurance Co. of North America.

However, even with the increased feelings of financial responsibility and stress, fewer women are using a financial adviser and fewer are feeling confident in their retirement plans.

When asked if they currently had a financial adviser, 30% of respondents answered yes, down from 33% in 2023. When it came to their retirement plans, 46% of women said they felt confident in their plans, down from 52% in 2023.The proportion of women respondents who think they will run out of money during retirement remained consistent with 2023’s results at 57%.

Confidence in 2025 was especially low among single (32%) and divorced (34%) women, while more married (53%) and widowed (56%) women said they felt secure about their plans. This aligns with the fact that single (62%) and divorced (61%) women were more concerned about running out of money in retirement than their married (52%) or widowed (51%) respondents.

Across different age groups of respondents, Generation X women (65%) expressed the highest level of concern about running out of money in retirement, compared with 56% of Millennials and 46% of Baby Boomers.

Additionally, only 15% of surveyed single women were likely to work with a financial adviser, compared with 36% of married women, 33% of widows and 29% of divorcees.

While Allianz Life Insurance Co. does not provide financial planning services, the study highlighted the importance of financially stressed women seeking financial guidance from professionals.

“The guidance of a financial professional can make a pivotal difference in your financial confidence,” said Heidi Vanderkloot, Allianz Life’s head of field marketing organization distribution, in a statement. “Many may feel a lack of confidence because they haven’t created a financial strategy that outlines their financial goals and the steps to achieve them. With the right support and financial strategies in place, women can more confidently navigate financial challenges and secure their futures.”

The Allianz Center for the Future of Retirement conducted its online survey in September 2025 with a nationally representative sample of 900 women aged 25 to 75 with an annual household income of at least $30,000.