Boomer women were one-third more likely than Boomer men to express a high degree of financial concern (39% versus 22.3%).
Asked about level of confidence in having enough money to live comfortably throughout retirement, 60% of women said they were not confident versus 51% of men. Seventy-nine percent of women expressed concern about their ability to maintain a reasonable standard of living in retirement, whereas 73% of men said the same.
When asked about level of discomfort with current debt levels (such as loans, mortgages or credit card debt), 48% of women said they were uncomfortable compared with 41% of men. Regarding discomfort with their current savings level, 64% of women expressed discomfort versus 59% of men.
Almost all Boomer women (87%) said they were worried that income in retirement might not keep up with inflation, whereas 79% of men said the same. More than three-quarters of women (78%) said they were concerned about depleting savings (74% of men).
Relating to a fear of retirement income varying based on interest rate changes, 67% of women expressed this feeling compared with 55% of men.
The one category where the worry of Boomer men exceeded that of Boomer women was regarding his spouse/partner’s ability to maintain the same standard of living should he die first (55% of men versus 47% of women).