Are Women Saving Enough for Retirement?

Women are contributing to retirement savings plans, but many factors put them behind when it comes to how much they save for retirement

Planning your future can be intimidating. How will you ensure that you have enough money on-hand to support yourself in your retirement years? For many women, the answer comes down to work-sponsored retirement programs. But, most women do not take full advantage of the programs that are available.


Women often save more for retirement than men do. According to a recent white paper, women are, on average, 14 percent more likely than men to contribute to a work-sponsored retirement account. However, there are factors that put women behind when it comes to retirement savings.

Women, on average, live five years longer than men. This means that they must plan to save more for retirement.

Additionally, women are more likely to take time out of the workforce to focus on family. According to one study, women work about 75 percent of the years that men do. Spending fewer years in the workforce may affect how much women can contribute to their retirement accounts.

However, understanding these realities is the first step to solving the issue. By learning how much you’ll need to save for retirement, you can take the first step to secure your future.


The Fund’s Savings Plan makes it easy for YMCA employees to grow their savings, tax-deferred until they retire. Y employees may open up a 403(b) Smart Account with the Fund regardless of their age or hours worked.

It’s easy to set up the account and get started. Fill out this form, submit it to your Human Resources department, and we’ll take care of the rest.

Putting aside a small amount from each paycheck now will help you achieve the financial security and comfort you’ll need later on. Get started today.

July 3, 2019