The $139K Retirement Savings Gap Hitting Women Over 60 in 2026
A ZipRecruiter report found that women age 60 and older have a median of $60,000 saved, while men in the same age group have a median of $199,000 saved. That equates to a staggering $139,000 gender gap in median retirement savings. And the situation is even more dire for single women — unmarried women age 60 and older have a median savings of only $19,500.
MoneyLion reached out to Nicole Bachaud, economist at ZipRecruiter, to find out why women are so behind in retirement savings, why this puts them at risk and what women can do to catch up.
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How does a lack of savings put women at even more risk than men when it comes to retirement security?
A median retirement savings of $60,000 is often insufficient to cover the costs of a typical retirement, which now often lasts 20 years or more. This shortage exposes older women to a greater risk of:
Poverty in retirement: Relying almost entirely on Social Security or other limited fixed income.
Healthcare costs: Being unable to afford unexpected medical expenses, especially as women tend to live longer than men.
Housing instability: Lacking the resources to maintain housing or transition to assisted living options.
Why are women so far behind men when it comes to retirement savings?
The gender wage gap: The most direct cause is the gender wage gap. While today women make $0.84 for every dollar a man makes, women who are nearing retirement started their careers when that differential was wider — women made $0.74 per a man's $1.30 years ago. This lifetime of lower earnings means less money available to contribute to retirement accounts.
The employment gap and career interruptions: Women have also had a lower employment rate than men. Furthermore, women typically take on the brunt of family caregiving responsibilities, leading to longer and more frequent periods of unemployment or underemployment. These breaks mean missed contributions and lost compounding interest on retirement savings.
Lack of financial independence: Lower lifetime earnings and fewer savings mean many older women lack the financial independence that their male peers may have, making them more vulnerable to economic shocks and reliant on spousal benefits and support.
What steps can women take to catch up?
Increase savings contributions: Women can focus on maximizing their contributions to retirement vehicles like 401(k) [plans], IRAs and Health Savings Accounts (HSAs) to benefit from tax advantages and compounding.
Negotiate: ZipRecruiter data shows women are less likely than men to negotiate any part of a job offer. In our Q2 Survey of New Hires, we see that only 25% of women negotiated their offer compared to 46% of men. And of those who did negotiate, only 17% of women ended up with better benefits versus 37% of men.
Women should be empowered to negotiate not just salary, but also retirement benefits, such as the 401(k) match, as even a small increase in employer contributions over a career can make a substantial difference.
This article was provided by MoneyLion.com for informational purposes only and should not be construed as financial, legal or tax advice.
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