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Women and Retirement


Women’s history month is about to come to an end and before it does, we wanted to give you some information specific to women and retirement. According to a survey conducted by AARP, “25% of women ages 50 to 64 are not confident” that they have saved enough for retirement (Jenkins, 2023). One of many reasons for this is that women on average spend less time in the workforce due to family needs such as childcare or caring for sick relatives or parents. Data is starting to come out showing that the pandemic has exacerbated this as more women had to leave the workforce when daycares and schools shut down. Other factors include the wage gap and age or gender discrimination at work.

If you are reading this wondering how your retirement is looking, see the list below for actions to take to increase your retirement income down the road:

  • Contribute to workplace retirement plans and try to max out contributions to get the most employer match possible.
  • Contribute to a ROTH account if you expect your income in the future to be higher than it is now.
  • A nonworking spouse can open and contribute to a traditional or ROTH IRA as long as their spouse is working, and you file as married filing jointly for taxes.

Here at Oxford Planning Group, we strive to work with our clients to provide the best planning possible for an ideal retirement. It’s never too late to get started, but starting as early as possible is always the best recommendation. A quote from Lewis Carroll states “ if you don’t know where you are going, any road will get you there.” We believe having a specific plan gives you the best chance of meeting your goals and achieving the success you desire.


Jenkins, J. A. (2023, March 7). Helping Women Retire Securely.