Female baby boomers are more anxious about their financial futures than their male counterparts, and with good reason, a new report from the AARP Public Policy Institute says.
Women boomers are less likely than men to receive income from assets and pensions, and the amount they will get from them also is less. Their Social Security benefits typically are lower. And they’re more likely to live in poverty or rely on public assistance.
As a result, 60 percent of women boomers, born from 1946 to 1964, are not confident they can afford a comfortable retirement. That compares to 51 percent of men born in that time frame who say they’re not confident they’ll be comfortable.
About 4,000 boomers were interviewed.
Overall, it’s been a rough ride for boomers of both genders since the recession.
The report notes, “The recession and its aftermath have left many without jobs, having exhausted their savings, and with homes they can neither afford nor sell. The surveys indicate that boomers are uncertain about what the future holds for them as they edge toward retirement.”