Only One in Four Women Expect Life to Be Better in Retirement
The annual survey from the
The survey also shows that on average, women count or expect to count on
"The percentage of women who believe
"There is reason for concern, but most likely,
Health care costs vs benefits
Nearly one in three (32 percent) say health problems are interfering with their retirement. Among those who have them, 77 percent say health problems occurred sooner than expected. In addition, the expenses associated with health care keep about a quarter of retirees (26 percent) from living the retirement they expected.
On average women live longer, meaning they spend more time in retirement and often do so with less savings.
"The average American woman claiming
Many women collect benefits early
Nearly three in four (74 percent) women currently collecting
The survey including 473 women over 50 who are retired or plan to be in the next 10 years found that of the 290 women currently collecting
A quarter (25 percent) of women believe
"Too many women retirees have no retirement income outside of
Women want help with
Only 13 percent of women say they receive advice on
"Financial advisors share a noble purpose of helping people prepare for a secure and happy retirement," says Eckert. "But it seems they have their work cut out for them. There are a variety of filing strategies open to women -- but too few seek professional advice from a financial advisor to take advantage of them."
It's not that women don't want the advice. In fact, three in five women (60 percent) admit that if their financial advisor could not show them how to maximize their benefit -- they would likely switch to an advisor who could.
Nationwide's
See how to make the most of your
Methodology:
The 2017 Social Security Study was conducted online within the
The 2016 Social Security Study was conducted online within the
About The Harris Poll
The Harris Poll is one of the longest running surveys in the
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Footnotes:
[1] Small base <100, results are directional in nature
[2] Social Security Trustees Report, 2017.
[3] Analysis from the Nationwide Retirement Institute Health Care Costs assessment tool and
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