Because women are more likely than men to interrupt their careers to start a family and to take care of aging family members, they are often more likely to work in part-time jobs. As a result, these part-time jobs don’t qualify for a retirement plan. Thus many women work fewer years and contribute less towards their employer sponsored retirement plans such as 401K.
Regardless the working status, women need to plan ahead. Even if you’re a stay-at-home mom, you can contribute to an IRA. The limit now is $5,000 a year. If you work full time and qualify, join a retirement plan now. The earlier you start, the less you will have to contribute. Waiting until children are off college or your 50s is not a good plan in retirement planning.