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Consumer credit counseling services may give women help regarding retirement worries
By Oscar Monfort on May 20th, 2010
When it comes to retirement, worries about the future may be different for men and women.
AXA Equitable Life Insurance Company recently released a poll that showed women were more likely than men to fret about not having enough money during their retirement years. Of those surveyed, 22 percent of women expressed this concern versus 11 percent of men.
The poll also showed that women were less likely than men to think investing in equities is a good idea, while 50 percent of female respondents said they did not feel confident in their ability to do so.
Barbara Goodstein, an executive vice president at AXA, said the poll's outcome shows women are facing financial conflicts.
"They know they need to invest for growth potential so their savings can last for 20 to 30 years of retirement, yet they lack confidence in their ability to invest so they aren't doing anything," Goodstein said.
Women who are worried about saving for retirement may consider getting advice from an outside source. For example, consumer credit counseling services can give people advice on how to cut back on expenses and increase savings based on their income.
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