According to the results of a survey released today by the Royal Bank of Canada, women were less likely than men to save for retirement, and their investment strategies are also significantly different.
Just under a third of the female respondents to RBC's most recent survey said they had not begun saving for their retirement, compared to roughly a fifth of the males polled.
The bank's head of retirement strategies, Lee Anne Davies, said women need more information about investments and planning for their golden years.
"[The results make] it all the more important for women to get advice about the options available to help them build their savings and enable them to have the lifestyle they want when they retire. This involves so much more than just a dollar figure and a financial planner can help them explore their goals and set a realistic plan of action," Davies said.
Strategies for retirement planning and investment will differ between workers, and experts suggest that professional advice can be helpful for those who aren't sure where to begin.
