Retirement Planning for Women

When it comes to retirement, everyone needs a plan — but for women, thoughtful preparation is even more critical.

Overcoming the Gender Gap in Retirement 

Women, on average, retire with 30–40% less savings than men. Why? Factors like the gender pay gap, caregiving responsibilities, and longer lifespans all contribute to unique challenges. Closing this gap is essential to ensuring a secure financial future for women.

Let’s break down the key challenges women face in retirement and explore practical strategies to overcome them.

Retirement Challenges for Women

Challenge 1: The Wage Gap

Women in the U.S. earn about 83 cents for every dollar men make, limiting the ability to save for retirement. Leadership roles and high-paying industries remain male-dominated, while part-time work and jobs with limited benefits are often the norm for women, further reducing savings potential.

Challenge 2: Caregiving Responsibilities

Women frequently step away from their careers to care for children, aging parents, or other family members. These career pauses can result in fewer raises, missed promotions, and reduced retirement contributions, all of which create a ripple effect on long-term financial stability.

Challenge 3: Longer Life Expectancy

Women live longer than men, which isn’t a challenge on its own but it does mean women need more savings to sustain through retirement. Rising healthcare costs and other expenses make it even more critical to plan ahead.

Be Retirement Confident.

Roll over all your old 401(k)s into a PensionBee Individual Retirement Account (IRA). It takes just a few minutes to sign up.

Get started

Bridging the Gap: Practical Tips for Women

Tip #1: Start Saving Early and Consistently

Even small contributions add up over time. Start saving as soon as possible to maximize the power of compound interest.

Tip #2: Talk About Finances Openly

Discuss retirement goals with your partner, family, or peers. Open conversations can create accountability and mutual support.

Tip #3: Invest in Financial Knowledge

The more you understand personal finance and investing, the better equipped you’ll be to make informed decisions. Explore books, online courses, or seek advice from trusted experts. If you want to learn more, PensionBee offers great educational resources in Retirement Explained.

Want to dive deeper into these issues and learn actionable solutions? Watch our video  to explore why women are more likely to face poverty in retirement and how we can fix it.

How PensionBee Can Help

Addressing the gender retirement gap requires intentional effort, but small steps can lead to meaningful change. With proactive planning and consistent action, women can build a retirement that’s not just secure but empowering.

PensionBee simplifies managing your savings by rolling your old 401(k)s into one easy-to-use IRA, making retirement planning accessible to everyone. With PensionBee, you can take control of your financial future, ensuring a secure and stress-free retirement. Start planning today for a brighter tomorrow.

Here’s how we make it simple:

  • Tailored Portfolios - Our ETF portfolios are designed with different risk levels in mind, so you can choose one that fits your needs. Explore our investments portfolios.
  • Easy Consolidation: Roll over your old retirement accounts into a PensionBee IRA to manage everything in one place.
  • Transparent Management: Monitor your portfolio’s performance, contributions, and transfers all in one easy dashboard.
  • Personal Support: Every customer is assigned a dedicated BeeKeeper - your own personal rollover manager - to support you through the process, helping make retirement saving stress-free. 
Information contained herein has been obtained from sources considered reliable, but its accuracy and completeness are not guaranteed. It is not intended as the primary basis for financial planning or investment decisions and should not be construed as advice meeting the particular investment needs of any investor. This material has been prepared for information purposes only and is not a solicitation or an offer to buy any security or instrument or to participate in any trading strategy. Past performance is no guarantee of future results.

Be Retirement Confident.

Roll over all your old 401(k)s into a PensionBee Individual Retirement Account (IRA). It takes just a few minutes to sign up.

Get started
product shot showing the pensionbee app