Men and women are preparing for retirement in very different ways, according to additional findings from the New Retirement Mindscape® City Pulse index
, released today by Ameriprise Financial. While men outpace women in planning for the financial aspects of retirement (77% vs. 72%), women are more likely to say they’ve thought about what they’d like to do during retirement. And though a mere 22% of Americans report confidence in reaching their retirement goals, men are significantly more likely than women to report this sentiment (25% vs. 19%).
“Financial preparation can help instill confidence in reaching your retirement goals – and rightfully so – but thinking about how you’d like to spend your time and where you’re going to live can have a dramatic impact on your overall readiness,” said Suzanna de Baca, vice
president of wealth strategies at Ameriprise Financial. “The activities you plan to pursue during retirement will likely have associated expenses. Failing to consider these can have significant consequences.”