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Women outpacing men in retirement preparation

11/30/11

According to a recently released Employee Benefit Research Institute report, full-time female workers are more active in their retirement planning than male counterparts.

The study also showed that men outpace women when part-time workers are included in the figures. The EBRI report found that 55.5 percent of women participated in retirement plans as opposed to 53.8 percent of men working full-time. When including part-time workers, men slightly edge women, 39.9 percent to 39.7 percent.

The findings from the study were based on the U.S. Census Bureau's March 2011 Current Population Survey.

“Based on these data, it appears that female workers' lower probability of retirement plan participation in the aggregate is a result of their overall lower earnings and lower rates of participation in the full-time work force, in comparison with men,” according to an EBRI release.

According to NewsMax.com, 10,000 baby boomers will turn 65 each day for the next 19 years.

Individuals who aren't prepared for retirement might look to life insurance and annuities as a method of preparing for unexpected expenses in the future.

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