Did you know that in 2016, a woman’s median retirement income was only 58% of their male counterpart? Several studies reveal that women lag behind men on the path towards a financially secure retirement. However, these studies lack statistical data and findings specific to women-owned and women-led organizations. Leading Retirement Solutions conducted a national study of women business owners and leaders to find this crucial missing data.
Women owned companies are the fastest growing new business segment accounting for 39% of all U.S. businesses (projected for 2017) according to a U.S Women’s Chamber of Commerce Policy Brief (February 2017). Despite this success, we know that women business owners are not as prepared as they should be for a financially secure retirement. Our study respondents reported lack of cash flow and reinvesting back into their business as the top reasons women business owners are not saving more for retirement. However, even in the face of these obstacles to saving for retirement, 90% of our study respondents reported that they have or are currently contributing to a retirement plan or retirement savings account. This is an encouraging trend, unique to women business owners.
What is a woman business owner’s approach to successful retirement preparedness? What financial goal is most important to women business owners 1) Financial independence; 2) Saving for retirement; or 3) Managing day-to-day expenses? Are women business owners more prepared for a financially secure retirement than women in general? How about their male counterparts? To learn what our study found, register for our webinar on Wednesday, June 7, 2017, 11:00 AM Pacific Time – anymeeting.com/PIID=ED50D98483483E
At Leading Retirement Solutions, we are leading the retirement preparedness conversation with and for women business owners. We are tackling the retirement preparedness gap with data driven financial and savings solutions. Just as important, we want women business owners to feel financially empowered to support their employees on the path to a financially secure retirement.