What men can learn from women about saving for retirement
By Hook Law Center
For instance, women who earn $75,000 or more on a yearly basis contribute approximately a full percentage point more of income than men who earn the same amount. One percentage point can translate into a significantly greater nest egg and much greater income for retirement.
Women may be better at saving, but because of men’s larger incomes and longer period of time working, their 401(k) balances tend to be larger. While men’s 401(k) balances are about $121,000, women’s are about $78,000.
There are many news stories that indicate that women are more sophisticated investors. They say that an index of hedge funds managed by women performed better than a wider hedge fund index. It has also been said that women spend more time conducting research of investments, exercise more patience and ask questions to others regarding their viewpoints on certain stocks.
Nevertheless, both men and women can find ways to improve their saving, investing and planning. It is advisable to be diligent and disciplined, and to ensure that your saving and investing are part of a long-term plan to realize a certain objective.