Banking on Early Retirement

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Since nearly 40 percent of women expect to collect their gold watch before age 65, time is of the essence. According to the 2000 Women's Retirement Confidence Report from the Employee Benefit Research Institute (EBRI), 72 percent of women say they have saved money for retirement, and nearly half (49 percent) have run the numbers on how much they'll need during their days of leisure. And while women continue to be less likely than men to save, the proportion of women attempting to do so has increased from 58 percent in 1994 to 79 percent today. Even so, just 21 percent of all women today are very confident they'll have enough money to live comfortably. This financial confidence varies by race and ethnicity: 28 percent of Asian women are very confident, compared with 21 percent of blacks and 19 percent of Hispanics.

WHO'S FEATHERING THE NEST

Among minority groups, 71 percent of Asian women have built a nest egg, compared with 61percent of blacks and 47 percent of Hispanics.

% OF WOMEN, BY SELECTED DEMOGRAPHICS, WHO HAVE SAVED ANY MONEY FOR RETIREMENT, NOT INCLUDING SOCIAL SECURITY TAXES OR EMPLOYER-PROVIDED FUNDS

Age
Under age 35 70%
Ages 35-39 74%
Ages 50 and older 72%
Household income
Under $25,000 35%
$25,000-$49,999 76%
$50,000 or more 86%
Education
High school or less 59%
Some college 72%
College graduate 86%
Marital Status
Married 77%
Not married 65%
Minority Groups
Black 61%
Hispanic 47%
Asian 71%
Source: Employee Benefit Research Institute
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