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Women Lag Behind Men in Saving for Retirement

When it comes to retirement planning, women are saving less than men. The coronavirus pandemic is only making it worse. Nearly three-fourths, or 72%, of women with investable assets of $100,000 or more said the crisis has negatively impacted their ability to retire, according to a January survey by Nationwide Retirement Institute.

“It doesn’t help that so many women are now pulled out of the workforce because of Covid,” said certified financial planner Zaneilia Harris, president of Harris & Harris Wealth Management Group, based in the Washington metro area.

More than 2.3 million women have left the workforce since February 2020, bringing their labor force participation rate down to levels not seen in more than three decades, according to the National Women’s Law Center.

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