Some recent news articles have been aimed at helping women with financial planning and retirement education. I do not think separating women, in this case, is needed. You see, women control the bulk of the household dollars spent in this country every day. To think that women are not thinking about and even planning for retirement is almost insulting. Of course they think about these things. I believe most think about it, and when the time is right, many think AND plan.
An article titled, Gender-Specific Retirement Education Fills Void states that, “Just 9% of women under the age of 45 making less than $50,000 a year are on track to reach their retirement goals, according to research from Financial Finesse” (http://ebn.benefitnews.com). I think, regardless of sex, any person making $50,000 a year or less is not thinking a lot about the future; about retirement. They are thinking more about what are they going to do to survive today. Many companies help you create goals for retirement or at least provide you the tools to do so. But, these companies are generally hiring people at more than $50,000 a year.
Is there an advantage to the people in the middle class compared to those below that? Yes. Many in the middle class have access to all these financial management tools through their employer. If you work for a fast food restaurant as a cashier or something low paying, access to these kinds of tools are not needed or are not available. If they are, they are not utilized by most employees.
Financial education should be a priority for most people, period!!