There is a number that a lot of women avoid looking at. It sits in a retirement account, or a savings account, or sometimes nowhere at all. And the longer you go without checking it, the heavier the avoidance gets.
If you are in your 40s, 50s, or beyond, and you have been putting off looking at your retirement picture, you are in very large company.
22%
of women
have $100K+ saved
39%
less saved
women vs. men at retirement
5%
of women 45-54
feel on track
Only 22% of women have more than $100,000 saved for retirement. Women, on average, have 39% less saved than men by the time they reach retirement age. And only 5% of women between 45 and 54 believe they are on track.
Those numbers are not meant to create panic. They are meant to show you that if your retirement savings are lower than you expected, you are not an outlier. You are the majority. And the majority can still make moves that matter.
Why Women End Up Here
The retirement savings gap between men and women is not about discipline or financial literacy. It is structural.
Women earn less over the course of a career. The gender pay gap, over 40 years of working, costs women an estimated $400,000 in lost earnings. For women of color, that number approaches $1 million. Less income means less going into retirement accounts, less employer matching, and less compounding over time.
On top of that, women are more likely to take time out of the workforce for caregiving. Raising children, caring for aging parents, managing household needs that pull you out of full-time work for months or years at a time. Every year out of the workforce is a year with no retirement contributions and no employer match.
And women live longer. The average woman needs her retirement savings to last nearly three years longer than the average man. More years to fund, on fewer dollars saved. That math is real, and it is not something most retirement planning tools highlight.
The savings gap is not a personal failure. It is the result of earning less, taking on more caregiving, and living longer. Knowing that changes how you look at your own number.
What Looking at Your Number Actually Looks Like
If you have a 401(k) or IRA from a current or former employer, log in and look at the balance. That is it. No calculations. No projections. Just the number.
If you have never had a retirement account, or if you cashed one out during a job transition, your number might be close to zero. That is information, not a verdict. Plenty of women start building retirement savings in their 40s and 50s. The contribution limits actually increase after 50 specifically to help people in this situation catch up.
The point is not to judge the number. The point is to see it. Because you cannot build a plan around something you have not looked at.
A Few Things Worth Knowing
After age 50, contribution limits go up. In 2026, workers 50 and older can contribute up to $31,000 to a 401(k), compared to $23,500 for younger workers. For ages 60 to 63, the limit is even higher at $35,750. These catch-up provisions exist for a reason. They are designed for people who are starting later or rebuilding.
Social Security is part of the picture. The average Social Security retirement benefit in 2026 is about $1,976 per month. That is roughly $23,700 per year. For many women, Social Security will be the foundation of retirement income. Knowing your estimated benefit is worth a few minutes of your time.
Every dollar you contribute now has value. Starting at 45 with consistent contributions is better than starting at 55. Starting at 55 is better than starting at 60. The math favors starting earlier, but it never favors not starting at all. Even modest contributions build something real over 10 to 20 years.
If your employer offers a match, that is free money. If you are not contributing enough to get the full employer match, you are leaving part of your compensation on the table. Even a 3% match on a $50,000 salary is $1,500 a year that costs you nothing.
Resources
Social Security Administration: My Account — Create a free account to see your estimated retirement benefit based on your actual earnings history. Takes about 10 minutes and gives you one of the most important numbers in your retirement picture.
SEC Compound Interest Calculator — See what consistent contributions could grow to over 10, 15, or 20 years. Sometimes seeing the math in black and white is what makes it feel possible.
U.S. Department of Labor: Women and Retirement Savings — A plain-language guide to retirement savings options, including IRAs, 401(k)s, and what to do if you have gaps in your work history.
The Real Takeaway
36% of women who are not yet retired say they plan to work at least part-time during retirement because they expect they will need the income. That number jumps to 50% for women between 55 and 64.
Working in retirement is not a bad thing if it is a choice. But for many women, it is not a choice. It is the result of not having enough saved, which is the result of not knowing the number soon enough to change it.
Wherever you are right now is where you start. Not where someone else is. Not where the benchmarks say you should be. Where you actually are today. That number, whatever it is, is the beginning of the plan. And the plan is what changes the outcome.
You do not need a perfect number to start planning. You just need the real one.
Sources: Transamerica Institute 25 Facts About Women's Retirement, 2025. Morgan Stanley Women and Retirement Report. Federal Reserve Survey of Consumer Finances. Social Security Administration. U.S. Department of Treasury, Spotlighting Women's Retirement Security. Mintel Retirement Research.