For millions of women across the United States, retirement feels less like a peaceful destination and more like an uphill climb. A new report from the Transamerica Center for Retirement Studies® (TCRS) lays out 25 striking facts about the financial realities women face—and how deeply structural barriers continue to shape their futures.

The findings confirm what many women already know: even with major progress in education and workplace achievement, they remain at significantly higher risk of reaching retirement without enough money, enough support, or enough security.

The 25 Facts Per TCRS Press Release

1. Women’s retirement dreams include travel (69%), spending more time with family and friends (61%), pursuing hobbies (49%), working (30%), volunteering (26%), and taking care of grandchildren (23%).
2. The “greatest” retirement fears among women include outliving their savings and investments (44%), Social Security being reduced or ceasing to exist in the future (43%), declining health that requires long-term care (43%), not being able to meet the basic financial needs of their family (38%), and cognitive decline, dementia, and/or Alzheimer’s disease (34%).
3. More than four in 10 women (43%) are currently and/or have previously served as caregivers during their working careers. Among them, 85% have made work adjustments due to caregiving.
4. Women’s top-cited financial priorities include saving for retirement (53%), building emergency savings (45%), paying off credit card debt (39%), saving for a major purchase or life event (37%), and just getting by to cover basic living expenses (36%).
5. Women have only $3,000 in total household emergency savings (median) to cover the cost of unexpected major financial setbacks.
6. Nearly three in four women (73%) are saving for health care expenses, including those who are through an individual account (e.g., savings, checking, brokerage) (51%), a health savings account (31%), a flexible spending account (19%), and/or other (4%).
7. Only 18% of women are very confident that they will be able to fully retire with a comfortable lifestyle.
8. More than one in four women (27%) expect Social Security to be their primary source of retirement income.
9. More than three in four women (77%) are concerned that Social Security will not be there for them when they are ready to retire.
10. Most women (79%) are saving for retirement at work and/or outside the workplace.
11. Women who work full time are more likely to be offered a 401(k) or similar employee-funded retirement plan than those who work part time (80%, 50%, respectively).
12. Among those offered a 401(k) or similar plan, 79% participate, contributing 10% (median) of their salary.
13. More than one-third of women (37%) have taken a loan, early withdrawal, and/or hardship withdrawal from their 401(k) or similar plan or IRA.
14. Women have $56,000 in total household retirement savings (estimated median). Baby Boomer women have saved $165,000, compared with Generation X ($77,000), Millennials ($52,000), and Generation Z ($26,000) (estimated medians).
15. Just 16% of women say they have “a lot” of working knowledge about personal finance.
16. Women estimate they will need to save $500,000 (median) to feel financially secure in retirement but, among those providing an estimate, 52% say that they “guessed” their needs.
17. Few women (19%) frequently discuss saving, investing, and planning for retirement with family and close friends.
18. More than four in 10 women (43%) expect they will need to provide financial support to a family member(s) (other than spouse/partner) while they are retired. Twenty-three percent of women expect to receive financial support from their family while they are retired.
19. One in four women (25%) have a financial strategy for retirement in the form of a written plan.
20. Only 32% of women currently use a professional financial advisor.
21. Fewer than half of women (44%) are aware of the Saver’s Credit, a tax credit for eligible taxpayers who save for retirement in a qualified workplace retirement plan or IRA.
22. Women plan to live to age 90 (median) and 15% plan to live to 100-plus. Thirty-nine percent said they are “not sure” of the age they plan to live, which is a reasonable answer but not practical for financial planning.
23. Half of women (50%) expect to retire after age 65 or do not plan to retire – and 53% plan to work in retirement. Among women who plan to retire past age 65 and/or in retirement, more cite financial reasons (83%) than healthy-aging reasons (74%).
24. Many women could be more proactive about ensuring they can work as long as they want and need. Just 59% say they are staying healthy, while 53% are focusing on performing well at their current job, and 48% are keeping their job skills up to date.
25. Women could be doing more to protect their long-term health. When asked about health-related activities they do on a consistent basis, women’s top responses include eating healthy (55%), getting enough sleep (52%), socializing with family and friends (51%), and exercising regularly (49%). Only 22% of women consider their long-term health when making lifestyle decisions.

Women’s Dreams Are Big—But Confidence Is Low

Women picture retirement as a time to connect, explore, and give back. The report shows:

• 69% want to travel
• 61% hope to spend more time with family and friends
• 49% want time for hobbies
• 30% envision working in some capacity
• 23% plan to help care for grandchildren

Yet only 18% of women are very confident they’ll retire with a comfortable lifestyle.

This gap between aspiration and reality reflects the financial challenges women face throughout their lives—from wage inequality to caregiving responsibilities to the rising cost of living.

Top Fears: Outliving Money, Losing Social Security, Declining Health

The report underscores the pressures keeping women up at night:

• 44% fear outliving their savings
• 43% worry Social Security will disappear
• 43% fear health declines that require long-term care
• 34% fear cognitive decline, dementia, or Alzheimer’s

With women living longer than men on average, retirement planning carries both a financial and emotional weight.

Caregiving Responsibilities Continue to Drain Savings

More than four in 10 women have served as caregivers at some point in their working life—and 85% had to make work adjustments because of it.

These interruptions often translate into:

• Fewer raises
• Lower lifetime earnings
• Lost retirement contributions
• Reduced eligibility for workplace benefits

Caregiving, while invaluable, remains one of the biggest hidden barriers to women’s long-term financial security.

Savings Are Too Low to Withstand Crisis

The numbers paint a sobering picture:

• Women have just $3,000 in emergency savings (median).
• Retirement savings total $56,000 (median)—far below what is needed.
• Even when estimating their retirement needs, 52% admit they’re guessing.

Gen Z women report only $26,000 saved, compared with $165,000 for Baby Boomers, reflecting generational challenges in today’s economy.

Women Are Trying—But Still Underprepared

The majority of women are saving for retirement, but many are still behind:

• 79% are saving either inside or outside the workplace.
• 80% of full-time workers have access to a 401(k), but only 50% of part-time workers do.
• 37% have taken a loan or withdrawal from a retirement account.
• Only 16% feel they have strong financial knowledge.
• Only 19% talk frequently about money with loved ones.

Most women plan to retire after age 65, and 53% expect to work in retirement—mainly for financial reasons.

Women Aren’t Just Worried About Money—They’re Worried About Health

The report reveals that many women are not consistently prioritizing the long-term health that will support a stable retirement.

Although most say they eat well, socialize, sleep enough, or exercise, only 22% say they truly think about long-term health when making lifestyle decisions.

This is critical because medical costs and chronic conditions can rapidly drain retirement funds.

A Call to Action: Women Need Better Support

The report makes one thing clear: women can’t solve these financial barriers alone.

Transamerica calls for a collective effort involving:

Policymakers

Reforming structural barriers, strengthening Social Security, and expanding access to employer-sponsored retirement plans.

Employers

Offering flexible schedules, retirement matching, caregiver support, and financial education.

Women themselves

Increasing financial literacy, creating written retirement plans, and prioritizing long-term health.

Men and family members

Serving as advocates and allies, especially when caregiving responsibilities fall disproportionately on women.

The Bottom Line

These 25 facts don’t just outline risks—they highlight an urgent national issue. Women’s path to retirement is shaped by lifelong inequities, and without major changes, the gap will continue to grow.

But with awareness, support, and policy change, women can move closer to the retirement they envision: one filled with freedom, dignity, and the security they deserve.

Source: PR Newswire; Transamerica Center for Retirement Studies