Feeling Behind on Retirement? You’re Not Alone—and You’re Not Out of Options
Many women quietly wonder, “Am I behind on retirement?” In my conversations with women—both casually and through coaching sessions—I hear this concern often. Feeling behind on retirement savings is incredibly common for women, especially when uncertainty, overwhelm, or fear make it difficult to face the numbers.
The good news? You are not alone—and you are not out of options. With awareness, realistic planning, and the right tools, women can build clarity and confidence around their retirement readiness at any stage of life. I want to raise awareness for women, and hopefully bring some clarity to assess your own retirement scenario and share some practical next steps.
Why So Many Women Feel Behind on Retirement Planning
Women, on average, have less saved for retirement. In general, due to the wage gap with men we earn less which in theory means our savings rates are lower. But also, many women pause their careers for caregiving - I know I did for a few years when my kids were born and only worked part-time. Women are also seen as the natural choice to step away from their career to care for aging parents as well.
Longer life expectancy throws a wrench in our financial planning as well because women in general live longer than men, so we need our retirement dollars to last an extra 5 to 6 years. One of the other unspoken truths is the potential lack of financial education or literacy keeps awareness of long-term investment opportunities out of our hands. This is not about poor choices by women - it’s about circumstances and systems.
“When I admit the problem, I can fix the problem.”
Avoiding Retirement Planning Is Common—but Awareness Is Empowering
I believe there is a tendency by many to avoid the entire retirement planning process because they are afraid - whether they learn they have a shortfall, are afraid there is not enough time to recover or just in general not ready to consider what their long-term plans are.
I think it’s important to realize that awareness doesn’t mean failure. Instead, recognition of your existing retirement savings equals control. By acknowledging “not knowing” your data is simply a starting point. And I hope that by being intentional to sit down and look at your numbers you will feel empowered by opportunity.
Understanding Your Retirement Readiness: Start with the Numbers
Assessing your current retirement savings is critical, because this is not a once and done process. Retirement savings is an ongoing process that ensures your financial security for later in life. By understanding your numbers, you define what your desired lifestyle is after you stop working. By regularly evaluating your retirement savings I think you will find that you have opportunities to identify potential gaps, manage risk factors, and adjust your strategy to ensure that savings are sufficient.
Regular assessments can help you determine if you are on track or identify shortfalls. If a gap exists, it can provide the opportunity to increase your retirement contributions, change your investment strategies, or re-evaluate the retirement timeline allowing you to catch up. By validating “your numbers” it helps you to understand the retirement planning basics which evaluate if you have enough saved to retire at your desired age and maintain the lifestyle you prefer.
Finding Clarity Through a Retirement Calculator
One of the most effective ways to understand your retirement readiness is by using a retirement calculator that reflects your real data—not fear-based assumptions.
Understanding where you stand by using real data and not estimates, ensures you are using realistic inputs, not fear-based ones. One of my favorite helpful tools to bring awareness to my own retirement readiness was exploring the variety of retirement calculators on the internet.
The retirement calculator can quantify your projections based on existing balances and your estimated retirement date, and you input what assumptions you want the tools to draw (i.e. rate of return for investments, how much you will continue to contribute while still working, etc.). This step can truly create clarity on your retirement gap or retirement readiness - with no judgement or discrimination.
What If Your Retirement Savings Are Falling Short?
While some individuals may be falling short of benchmarks or what social media says is your ideal retirement amount, others are panicking without real cause. Have you heard you need $1.2 million to retire comfortably? Not everyone needs to reach that number, because retirement savings goals are not one-size-fits all; so be careful what you are measuring yourself up against.
As you define what your specific retirement planning amount is based on your individual lifestyle needs in the future, did you fall short? Well, the good news is there are many opportunities to explore improving your contributions. If you keep an open mind, are flexible and reflect on what choice you support to achieve that lifestyle I know you can improve your retirement savings.
Increase your contributions. A small 1% increase every year during your annual merit period can make strides over time.
Utilize catch-up contributions. If you are age 50 or over the government allows you to “catch-up” by an additional $8,000 this year. This may seem extreme or sound impossible, but if you revisit your monthly spending, you may find you can squeeze out a bit more to support your long-term needs.
Adjusting timelines or expectations. If you have done all you can with improving your contributions and it still doesn’t move your retirement calculator numbers, then perhaps you consider adjusting your chosen retirement date or annual lifestyle expenses. Consider adding another year or two, downsizing your home or staying where you are and taking-in a roommate. Explore all your options.
Reviewing investment allocations. How recently did you look at your portfolio’s investment rate of return? Could you find mutual funds with a better track record or increase your investment volatility and exposure to risk which could improve your returns.
Exploring supplemental income opportunities. I know nobody wants to talk about getting a second job, but if you are a bit behind on your retirement savings then I think you should seriously consider getting a part-time job. Even an extra 10-15 hours on nights or weekends for a few years could really help to boost your retirement planning and put it on a projection you are proud of.
Long-Term Prosperity Is About Progress, Not Perfection
As you move along with determination and hopefully peace (not panic) remember that retirement planning evolves over time. The most important component is recognizing the power of your consistent actions. When you can consistently be mindful of this long-term planning range you are working on to achieve, you are empowered with a clear focus and goal. I would also encourage you to connect with a family member or friend to be your accountability partner, not only does it hold you responsible for your actions and plans, but regular check-ins reinforce the flexibility we all need. This is not a one-time planning exercise, instead it is a long-term opportunity that should be reviewed at a minimum annually and adjusted where needed as you monitor your retirement calculator and progress towards your retirement readiness figures.
Perfection in my opinion is not achievable when we consider retirement planning because there are too many factors involved - your personal life, the market volatility and your overall employment. So many factors could impact your retirement savings and contributions, so instead of focusing on “catching up” I would encourage you to embrace a mantra of “moving forward.” Moving forward with your long-term prosperity in mind, a financial range in mind and overall dedication to expand your financial literacy awareness and preparation.
You Are Not Late — You Are Becoming Aware
If you are an individual that feels behind on your retirement planning or has regrets not leveraging the greatness that is compound interest when you were younger. Let that negativity go. Many women start later and still build security and a retirement lifestyle they can be proud of.
But you must acknowledge where you are and start making informed decisions - not anxiety driven thoughts with no data awareness. When women feel behind on finances or retirement the largest hurdle is often mindset, not math. Feelings of self-judgement, fear or shame can create avoidance, making it harder to take the most important steps that build confidence and clarity. Affirmations may help you interrupt that cycle by reframing your beliefs and replacing them with empowering and forward-focused thoughts.
I have found consistently affirming my goals and progress towards achievement provides awareness that the possibility of success is possible and I start to develop self-trust in myself. Women can quiet the inner critic, minimize overwhelm, and hopefully approach your financial decisions with tranquility and conviction. If you aren’t sure what affirmation to use, consider these:
☑️ “I am not behind — I am becoming aware, and awareness creates opportunity.” Use this when fear or comparison shows up.
☑️ “Every step I take today strengthens my financial future.” Perfect for reinforcing progress, no matter how small.
☑️ “I am capable of making informed decisions that support my long-term security.” A confidence builder before reviewing numbers.
If you have any hesitation on where you stand pertaining to your retirement planning, then I encourage you to set aside some time immediately to review your retirement picture. Gather all your existing data and visit one of the free retirement calculators online, be bold and face the facts. And if you have questions or concerns, reaching out to someone without shame as asking for help is not a weakness. It shows your courage to admit your limitations, reflects wisdom for seeking financial literacy improvement and potentially the opportunity to foster collaboration with someone else.
As you gather your data and input it into an online in a retirement calculator, consider these reflection questions to keep you on a positive path of retirement preparation:
Do I know how much I’ve saved so far?
Do I understand where my money is invested?
When was the last time I reviewed my retirement plan?
Who could support me in this process?
If you’d like help strengthening your retirement readiness and financial confidence, let’s chat. Schedule a FREE 45-minute retirement clarity call, and together we’ll create a plan to move you from uncertainty to confident, informed action.
You may also find my earlier blog, From Silence to Success: How Women Can Close the Financial Literacy Gap Together, helpful if you’re looking to build confidence through financial literacy and shared support.
If you have enjoyed this article, follow me on social media@lordfinancialcoaching.
