When it comes to retirement, both men and women are stressed and excited. But why are women in particular so worried about it? Is it the stress of saving? The change in lifestyle? Health concerns? All of the above?

Who is the most worried?

Truthfully, it’s not just women who are worried for retirement. Men are anxious as well. But for different reasons. While women seem to have more financial and health concerns, men tend to be worried about lifestyle changes. Which is a telling fact about the challenges women face headed into retirement.

Men worry about changes in routine. 31% are concerned about it. Another 25% are worried they’ll get bored. In fact, only 41% report even being excited about the proposition of retirement in general. Women worry far less about these factors, in fact 51% of women are optimistic about retirement.

Women are financially stressed. Women are worried about losing money on their investments, about debt derailing their retirement. They doubt themselves, with only 37% of women reporting they have full confidence in their financial planning abilities.

Challenges. The reasons to worry.

Women may be justified in their concerns. They face a number of obstacles which put them at a disadvantage when compared to men, in terms of preparing for retirement.

Many women worry about running out of money during retirement, and consequently returning to work. Which, for women, is real a possibility. Women have a higher life expectancy than men, and to complicate matters further, usually have a shorter time horizon to save for retirement.

Time spent out of the workforce either caring for children or other loved ones equates to time without wages, time spent not saving for retirement. Upon reentering the workforce, women face lower salaries than they previously earned, meaning women have a smaller pool of assets they need to stretch over a longer time horizon.

Longer life expectancy can also mean higher health care costs, or higher likelihood of disabilities.

Beating the retirement worries.

So for women, the challenges are real and plentiful. Retirement is a challenge for everyone, and being financially stable can be difficult for any gender to achieve. With rising life expectancy and increasingly uncertain market conditions, the 20-30 year retirement proposition is becoming more challenging. So men, women, everyone really, needs to plan carefully, and be sure your plan will allow you to enjoy your retirement free of worries.