Strong motivators for women to start saving have been seeing people who have not prepared and have struggled in retirement and realizing that time to prepare is running out. The availability of a retirement plan or educational materials at work motivated thirty-one percent. A professional financial advisor motivated seventeen percent and things they read in a newspaper or magazine or saw on television motivated fifteen percent. A majority of the women who are saving for retirement are not confident they are investing their savings wisely and a small number are very sure they are not investing wisely. The difference between women and men s confidence in wise investing is significant.
Women rely on many sources for investment information.
Fifty-four percent use written information from their plan at work. One of the conclusions from this survey is the need for more and better education for women about planning and saving for retirement. Many women are still not saving and even women who are need help in knowing how much they need to save and investing their savings. Ensuring the retirement income security of American women demands education. Many consumers still do not know much about debit cards.