Midlife women’s financial confidence plummets as cost pressures bite

A substantial share of women voters age 50 and older say their financial situation has worsened over the past year, according to a newly released survey. The results point to growing economic strain among a powerful demographic that often relies on financial advisors to navigate retirement and long-term planning decisions.

Just over half of women age 50-plus report being worse off financially than they were 12 months ago and confidence about retirement readiness remains muted with only 11% saying they are “very confident” they will have enough money to live comfortably in retirement, while another 33% say they are “somewhat confident.”

The findings of the AARP poll, drawn from a bipartisan polling effort, suggest that persistent inflation, anxiety about the future of Social Security and broader economic uncertainty are combining to erode financial confidence. Rising everyday expenses rank as the top national concern among women voters in this age group.

“Our latest polling shows that women age 50 and older—a critical voting bloc—are facing serious economic concerns and are not confident the year ahead will bring greater financial stability,” said Nancy LeaMond, AARP’s executive vice president and chief advocacy and engagement officer. “When kitchen table costs are rising along with retirement insecurity, those concerns don’t stay at home; they shape how older women voters think about the upcoming elections.”

Health care affordability is a major contributor to the financial stress. More than half of women ages 50 to 64 say they cannot afford health care costs, while nearly one quarter of women 65 and older who are eligible for Medicare report similar difficulties. In comparison, fewer men say health care expenses are out of reach.

These pressures are forcing difficult trade-offs. Many women in the 50–64 age range report delaying or skipping medical care, taking on additional debt, or cutting back on prescription medications because of cost concerns.