Half of American women are struggling financially today, making it very difficult to plan for a secure retirement, say two surveys of women ages 25 and older, commissioned by the National Council on Aging (NCOA) and Women’s Institute for a Secure Retirement (WISER). As well, across demographic and party lines, women express strong bipartisan support for federal policy solutions that could help.
Half of American women are struggling financially today, making it very difficult to plan for a secure retirement, say two surveys of women ages 25 and older, commissioned by the National Council on Aging (NCOA) and Women’s Institute for a Secure Retirement (WISER). As well, across demographic and party lines, women express strong bipartisan support for federal policy solutions that could help.
‘What Women Say‘: Insights and Policy Solutions for Lifelong Financial Security’ asked women what they think about their financial situation now and how they feel about their future retirement. Conducted by Public Opinion Strategies and Lake Research Partners, it also explored women’s support for 13 potential policy solutions.
Key findings about financial insecurity show their top concerns are the cost of housing, social security and Medicare being cut, not having enough savings to retire, and outliving savings in retirement. Nearly half reported not having an employer-sponsored retirement plan.
“It’s sobering to see such widespread financial insecurity among women in America,” said Ramsey Alwin, NCOA president and CEO. “We know that a woman’s ability to age well starts early ‒ not just when she retires. If women of all ages are finding it difficult to stay afloat today, their chances of aging with security are dim.”
The women expressed support for potential policy solutions that could help. These include raising the minimum social security benefit to above the federal poverty level.
