Women are retiring with up to $1 million less than men

Posted 5/4/2018

A new study from Merrill Lynch and Age Wave has found that, by the time they reach retirement age, women may have accumulated up to $1.05m less than men, thanks to gender pay disparities, and life events such as pregnancy, or caring for a sick parent. Furthermore, it found that, while the typical retirement costs $738,000, only 9% of women have $300,000 or more saved up.The study surveyed 3,707 people - 2,638 women and 1,068 men - based on their earnings from ages 23 to 65.

New York Post