With Mother’s Day just around the corner, ING U.S. has released research on women and retirement planning. Judging from the results, perhaps the best present for Mom this year would be a better retirement plan.
Compiled by the ING Retirement Research Institute, the statistics show that women, particularly mothers, are woefully underprepared for retirement. Of those who have funds stashed in or out of employer-sponsored retirement plans, women had an average of $108,000 in total savings. By comparison, men had accumulated $149,000 on average. For women with children at home, the figure dropped to $88,000.