Why fewer women are saving for retirement [Video]

(InvestigateTV) — A new Bankrate survey reveals a troubling disparity: fewer women than men are saving for retirement.

This gap could result in women losing out on hundreds of thousands of dollars over their lifetime.

According to the data, 26% of working women did not contribute to a retirement savings account between August 2023 and August 2024. By contrast, only 16% of working men reported not saving for retirement.

Bankrate’s Alex Gailey dug into the numbers to understand why this disparity exists.

“We have to remember women are working with less. The gender pay gap is certainly at play here. Women earn 82 cents for every dollar a man earns,” she said. “So, the gender pay gap is part of the problem. But in addition to that, there’s a lot of research to suggest women feel misunderstood in the financial world, which may be driving some of their behavior.”

Research shows women are more likely to …