25 Facts About Women's Retirement Outlook

Today’s women have achieved extraordinary progress in terms of educational attainment and career opportunities that were unimaginable half a century ago. Despite this progress, women continue to lag men when it comes to saving, investing, and planning for retirement. A woman’s road to retirement is filled with financial obstacles, such as lower pay and having to take time out of the workforce for parenting and caregiving, which can negatively impact her long-term financial security. Women statistically live longer than men, further highlighting the importance of proactive retirement planning and saving.

25 Facts About Women’s Retirement Outlook, a collaboration between Transamerica Center for Retirement Studies (TCRS) and Transamerica Institute, illustrates how women workers are juggling competing priorities and financially preparing for the future. It also offers gender-gap comparisons with men.

Key findings among workers include:

• 44% percent of women fear outliving their savings and investments, compared with 37% of men.
• Women have saved a median of $56,000 in total household retirement accounts, far less than the $92,000 saved by men.
• Only 25% of women have a written retirement strategy, compared with 33% of men.

This report marks the 20th consecutive year that our organization has published research that illustrates women’s retirement-related risks along with actionable steps to help mitigate them. The goal of the research is twofold: 1) to raise awareness of the retirement risks that women are facing, and 2) highlight opportunities for women to take greater control of their finances and their future.

The report is based on findings from the 25th Annual Transamerica Retirement Survey, conducted in 2024, which includes 5,493 workers employed by for-profit companies.