A survey by the Transamerica Center for Retirement Studies reveals women have a median total savings of $56,000 in household retirement accounts, compared to men’s $92,000. Baby boomer women workers aged 61-79 have a median savings of $165,000. CEO Catherine Collinson advises maximizing Social Security benefits to preserve savings in retirement.

Gen X women, ages 45-60, have a median household retirement savings of only $77,000. Collinson urges proactive measures to protect employability and increase earnings. Millennial women, ages 29-44, have a median savings of $52,000. Collinson emphasizes the importance of financial planning and staying focused on savings amidst multiple responsibilities.

Gen Z women, the oldest being 28, have a median savings of $26,000. Collinson praises their early start in saving for retirement, adding 15 years to their savings horizon compared to boomers. She encourages Gen Z to continue learning about planning and investment options in their 401(k). 1. President Biden signed an executive order to promote competition in the U.S. economy. The order aims to lower prices for consumers and increase wages for workers by targeting industries with limited competition, such as technology and healthcare.

2. The Tokyo Olympics will be held without spectators due to a resurgence of COVID-19 cases in Japan. The decision was made to prioritize public health and safety as the country continues to battle the pandemic.

3. The European Union approved the use of the Pfizer-BioNTech COVID-19 vaccine for children aged 12 to 15. This decision comes as countries around the world work to vaccinate younger populations to achieve herd immunity and control the spread of the virus.

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