A recent Advisor Authority study by the Nationwide Retirement Institute reveals how uncertain economic conditions and caregiving responsibilities significantly affect women's retirement savings. The study found that 67% of women supporting children or aging relatives reported impacts on their career, with 18% indicating they could not save adequately for retirement. Various factors, such as reduced work hours and delayed promotions, highlight the struggles across generations. Financial professionals have a unique opportunity to address these specific concerns and assist women in navigating their financial futures amid these pressures.
Uncertain economic outlook and caregiving responsibilities are impacting the ability of women across all generations to save for their retirement, according to a new Advisor Authority study from the Nationwide Retirement Institute.
Our study sheds light on the financial challenges women of all ages are facing. Recent conditions of market uncertainty combined with the significant stress that family caregiving responsibilities are putting on women are certainly creating a challenging environment.
It's understandable that women investors, who often serve as primary caretakers for their family, feel challenged by the current economic environment and the pressures of taking care of their loved ones.
But the concerns of women investors are not one-size-fits-all. We're seeing each generation of women process these challenges in different ways, creating opportunities for financial professionals to better serve clients in these groups.
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