Women in the age group 40-59, commonly known as the sandwich generation, fall short of their retirement preparations as they are often caring for children and ageing parent, while managing their careers, giving them little time to focus on financial security.
A majority of respondents in the Aegon Retirement Readiness Survey say that they are pessimistic about being able to retire with a comfortable lifestyle and home makers are not prepared for retirement. About 53% respondents think their spouse or partner will be a very important source of financial support during retirement.
The study suggests that women should make a list of retirement goals and aspirations and make a written retirement plan and seek help from a financial planner to chalk out a proper long-term investment plan. The study also suggests that they should job skills up to date and work at least part-time if not currently employed.