Retirement Planning for Women: Key Strategies for Every Stage of Life 

Financial preparedness isn’t built through a single account, product or decision. It’s developed over time through a combination of tools that work together to support your goals throughout every stage of life. 

For many women, the years between 30 and 50 can be filled with competing priorities. Career advancement, raising a family, home ownership, personal goals, caring for aging parents and managing everyday expenses can make it difficult to focus on long-term financial objectives. 

At the same time, today’s financial decisions can influence opportunities decades into the future. So why is retirement planning for women so important? 

According to the Centers for Disease Control and Prevention (CDC), women in the United States have an average life expectancy of 81.4 years, nearly five years longer than men. That longevity can create more opportunities to pursue personal and professional goals, but it can also mean planning for more years of living expenses, healthcare costs and retirement income needs.  

The good news is that long-term financial confidence doesn’t require a perfect plan. Instead, it starts with taking advantage of the tools available today and building a strategy that can evolve alongside your career, responsibilities and aspirations. 

Think beyond retirement and focus on your financial journey 

When people hear the phrase “retirement planning,” they often picture a milestone decades away. 

But financial planning is really about preparing for a lifetime of opportunities, transitions and responsibilities. Whether you’re considering a future career change, starting a family, exploring entrepreneurial opportunities, supporting aging parents or pursuing personal goals, having a strong financial foundation can create greater flexibility. 

Research from the U.S. Department of Labor notes that women often face unique financial planning considerations, including longer life expectancies, periods of caregiving and lower retirement account balances than men. These realities make proactive planning especially important.  

Financial confidence is not about predicting every future challenge. It’s about building resilience and creating options so you’re prepared for whatever comes next. 

Start with employer-sponsored retirement savings 

For many women, an employer-sponsored retirement plan is one of the most powerful tools for building long-term financial security. 

Employer-sponsored retirement plans help create a disciplined savings habit and may include valuable features such as employer matching contributions, automatic enrollment and contribution escalation options. If your plan offers Roth contributions, it may be worth considering them very early in your career, when your income and tax rate may be lower than they could be later. Saving consistently over time can help turn small actions today into meaningful progress toward future goals. 

Retirement savings also play an important role in how people view their financial future. According to the 2025 Retirement Confidence Survey from the Employee Benefit Research Institute (EBRI), 67% of workers say they are confident they will have enough money to live comfortably throughout retirement.  

If you’re already participating in an employer-sponsored retirement plan, consider reviewing your contribution rate and investment selections regularly. Raises, promotions and career transitions can provide opportunities to increase savings while maintaining your current lifestyle. 

Learn more: 5 Steps to Help Boost Your Employer-Sponsored Retirement Plan 

Build a financial toolkit that works together 

Retirement savings are an important foundation, but they are only one part of a broader financial strategy. Here are some other strategies to help you prepare for what lies ahead. 

1. Maintain emergency savings 

Unexpected expenses can happen at any stage of life. A job change, medical expense, home repair or family emergency can quickly disrupt even the best financial plans. 

Maintaining an emergency savings fund can help provide flexibility during uncertain times and may reduce the need to withdraw money from long-term savings vehicles. 

2. Plan ahead for education costs 

For women with children or family members they hope to support, college and other education costs can become an important part of the financial planning conversation. Tuition and fees vary widely by school type. 

Starting early, even with modest contributions, can give education savings more time to grow and may help reduce the need to rely on future borrowing. Families may want to explore education savings vehicles such as 529 plans, which can offer tax advantages when used for qualified education expenses. At the same time, education planning should be balanced with other priorities, including emergency savings, retirement contributions and insurance protection.  

3. Prepare for the life you want to live 

Financial goals don’t stop at retirement. 

You may want to start a business, return to school, travel, purchase a home, take time off to care for a family member or pursue a passion project. Additional savings and investment accounts can help support these goals while complementing your retirement strategy. 

Thinking about your financial future through the lens of possibilities, rather than just retirement, can help create a more holistic approach to planning. 

4. Include protection in your financial strategy 

Building wealth is important. Protecting it is equally important. 

Life insurance can play a key role in a comprehensive financial strategy by helping provide financial protection for the people and priorities that matter most. 

For some women, that may include a spouse, partner or children. For others, it may mean helping protect aging parents, business interests or future goals. As circumstances evolve, regularly reviewing insurance coverage can help ensure your protection strategy remains aligned with your broader financial plan. Learn more about life insurance offerings from Ameritas. 

5. Prepare for caregiving responsibilities 

Many women find themselves balancing financial goals alongside caregiving responsibilities. 

According to research from AARP and the National Alliance for Caregiving, nearly one-third (29%) of family caregivers are part of the “sandwich generation,” balancing care for both an adult and a child under 18. The research also found that half of caregivers report a negative financial impact from caregiving responsibilities. 

While every situation is different, planning ahead can help create greater flexibility for you if caregiving responsibilities arise in the future. If caregiving leads to reduced hours, a career pause or lower income, it may also affect your retirement plan contributions, employer matches and long-term savings momentum. In those moments, it can be helpful to revisit your strategy with a financial professional, including contribution levels, investment selections and how much risk is appropriate based on your updated timeline and cash flow.  

It may also be worth considering how long-term care insurance could fit into a broader protection strategy. Planning before a care need arises can help individuals and families think proactively about potential costs, available support and the financial impact of caring for loved ones—or needing care themselves later in life. 

Learn more: How Can the Sandwich Generation Balance Supporting Kids and Aging Parents? 

6. Think about future income 

As you consider your financial future, remember that your personal retirement savings are only part of the equation.  

Future income may come from several sources, including employer-sponsored retirement plans, Social Security benefits, annuities, personal savings and investments. Understanding how these pieces may work together can help create a clearer picture of your long-term financial outlook and help support your lifestyle goals later in life. As you get closer to retirement, it may also be worth asking whether your retirement plan or IRA allows catch-up contributions, which can give eligible savers age 50 or older an opportunity to contribute more toward retirement each year. 

Learn more: Building Retirement Income with Annuities 

Build confidence through planning and professional guidance 

Many women successfully manage day-to-day financial responsibilities but may lack confidence in long-term financial topics such as investing, wealth building and retirement planning.  

If that sounds like you, one way to bridge that gap is through ongoing financial planning and professional guidance. 

A financial professional can help connect the various pieces of your strategy, including retirement savings, investments, insurance protection and future income planning. Regular reviews can help ensure your plan remains aligned with your goals as your life and career evolve. 

Consider making it a habit to: 

• Review financial goals annually. 
• Increase savings when income rises or opt in to automatic contribution escalation, if available. 
• Revisit beneficiary designations. 
• Evaluate insurance coverage as circumstances change. 
• Assess progress toward short- and long-term goals. 
• Meet regularly with a financial professional to keep your strategy aligned and moving forward. 

Small actions, repeated consistently over time, can help create meaningful progress in your financial journey. 

Frequently asked questions 

Why is long-term financial planning especially important for women? 

Women often face unique financial planning considerations, including longer life expectancies and caregiving responsibilities. According to the CDC, women have an average life expectancy of 81.4 years, which may require planning for additional years of living expenses and retirement income.  

Is contributing to an employer-sponsored retirement plan enough? 

An employer-sponsored retirement plan can provide a strong foundation, but many people benefit from a broader strategy that includes emergency savings, additional investment accounts, insurance protection and future income planning. 

What role does a financial professional play in building financial confidence? 

A financial professional can help coordinate retirement savings, investments, insurance and income-planning strategies into a cohesive plan. Regular reviews can help ensure your strategy continues to align with your goals as life changes. 

Disclosures 

Representatives of Ameritas do not provide tax or legal advice. Please consult your tax advisor or attorney regarding your specific situation.