The Intersecting Impact of Gender, Health and Marital Status on Retirement Planning

• In Event: 20403 - Aging in the Context of Gender and Sexuality

Abstract

Retirement expectations inform savings strategies, which are central to financially secure retirements. Yet, social inequalities pattern retirement savings, which in turn affects the financial security of retiring adults. Drawing on the National Longitudinal Survey of Youth 1979 (NLSY79), I examine whether and how the intersection of marital status, gender, and health shape self-reported retirement planning behaviors, specific planning strategies, and total retirement savings among late-Baby Boomers (N=6,027). The analysis employs a step-wise regression approach, using binary logistic regression, OLS regression, and marginal effects, to assess the direct and interactive effects of gender, marital status, and health on retirement planning and savings. Preliminary findings align with existing literature, indicating that men and married individuals are more likely to plan and save for retirement, while those in poor health exhibit lower retirement savings. However, the intersection of gender and health reveals a more complex picture. Women in poor health demonstrate a higher propensity for retirement planning, potentially as a proactive measure to mitigate perceived burdens on family members. Despite increased planning efforts, their retirement savings remain lower, reflecting persistent gendered and health-related inequalities. Conversely, men in poor health are less likely to plan for retirement, though their savings are not as negatively affected as women. This research highlights how intersecting inequalities shape retirement preparation strategies, contributing to persistent social inequalities impacting the financial security of retiring adults.

Author

• Kristen Tzoc, Hood College