It doesn't take much savvy to realize that party's not going to happen. Planning for retirement may be a little like planning a party. Setting a date for either event is an important first step. Perhaps when women start being more specific about retirement, they too will begin to prepare.
Studies show that men are much more likely than women to plan for retirement.
In a study of gender differences in retirement planning knowledge, DeVaney found that 42 percent of the men felt in control of the process of accumulating money for retirement, compared to 28 percent of the women. DeVaney analyzed data from the national 1996 Retirement Confidence Survey. The survey was organized by the Employee Benefits Research Institute and the American Savings Education Council. Comparing retirement with a festive party doesn't seem far-fetched to DeVaney. She views retirement as that reward at the end of the rainbow.