Attention, Ladies: You need to catch up with the guys. They’re planning and saving more for retirement than you are.
A new survey from Ameriprise Financial finds that 54 percent of men are salting away money for retirement while only 46 percent of women are.
Nearly a third of men have projected of how much money they will need in their Golden Years -- only a fifth of women have, according to the Ameriprise’s latest New Retirement Mindscape City Pulse index.
It's no surprise, then, that men tend to be more confident they are on track to reach their retirement goals than women -- 41 percent vs. 34 percent, the survey found.
But both sexes underestimate how many years they will spend in retirement -- about 17, most think -- while most financial planners suggest it may be better to save enough to cover 30 years.
More Americans are reaching their 90s, after all. There are 128,102 90-somethings just in South Florida, according to the Social Security Administration.
"It's especially important that women begin saving early and plan for a long retirement because they have longer average life spans and spend more time out of the workforce," said Suzanna de Baca, vice president of wealth strategies for Ameriprise Financial.
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