2023-09-28 14:46:10 +00:00
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abstract: 'Wealth is an increasingly important dimension of economic well-being and
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is attracting rising attention in discussions of social inequality. In
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this article, we compare - within and across countries - wealth
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outcomes, and link those to both employment-related factors and policy
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solutions that have the potential to improve wealth creation and
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retirement security for women. By constructing country-specific
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portraits of wealth outcomes and `retirement preparedness'', we reveal
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extensive cross-national variation in multiple facets of wealth. Our
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regression analysis finds a statistically significant and positive
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effect of work experience on wealth, with that effect, in general,
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increasing over time. The effect of work experience for single women is
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greater than for single men, suggesting that, among men, other, stronger
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forces are at work in creating wealth. The retirement preparedness
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outcomes indicate that single women in all three countries are in a
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precarious position at retirement, with much lower expected annual
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wealth levels than single men. The second preparedness indicator, which
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links expected annual wealth to income, demonstrates that men have the
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potential to cover larger shares of their income at retirement - and
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thus are more able, than their female counterparts, to maintain
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standards of living achieved earlier in life. Our policy discussion
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indicates that employment remains a viable option for ultimately
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bolstering women''s wealth accumulation. Many scholars, gender equality
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advocates and policymakers have argued for raising women''s employment
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rates - for a multitude of reasons - but few, if any, have made the case
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for strengthening women''s employment in order to ultimately bolster
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women''s wealth building. We hope to help reduce the gap in the
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literature on policy supports for women''s employment and re-open the
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discussion on how women can create more wealth.'
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affiliation: 'Sierminska, E (Corresponding Author), Luxembourg Inst Socioecon Res
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LISER, Esch Sur Alzette, Luxembourg.
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Sierminska, E (Corresponding Author), DIW Berlin, IZA, Berlin, Germany.
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Sierminska, E (Corresponding Author), GLO, Sunnyvale, CA 94089 USA.
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Gornick, Janet C., CUNY, Grad Ctr, New York, NY USA.
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Sierminska, Eva, LISER, Esch Sur Alzette, Luxembourg.
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Sierminska, Eva, Univ Arizona, Tucson, AZ 85721 USA.'
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author: Gornick, Janet C. and Sierminska, Eva
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author-email: eva.sierminska@liser.lu
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author_list:
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- family: Gornick
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given: Janet C.
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- family: Sierminska
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given: Eva
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da: '2023-09-28'
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doi: 10.1177/09589287211056174
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eissn: 1461-7269
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files: []
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issn: 0958-9287
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journal: JOURNAL OF EUROPEAN SOCIAL POLICY
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keywords: 'employment; wealth; gender differences; policy; welfare states;
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retirement'
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keywords-plus: INEQUALITY; WOMEN
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language: English
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month: DEC
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number: 5, SI
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number-of-cited-references: '30'
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orcid-numbers: Sierminska, Eva/0000-0003-1936-814X
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pages: 549-564
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papis_id: 16853b83abd68a2419e3fe2a96ad4076
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ref: Gornick2021wealthaccumulation
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researcherid-numbers: Sierminska, Eva/AAJ-6665-2021
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times-cited: '5'
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title: 'Wealth accumulation and retirement preparedness in cross-national perspective:
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A gendered analysis of outcomes among single adults'
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2023-10-01 08:15:07 +00:00
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type: article
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2023-09-28 14:46:10 +00:00
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unique-id: WOS:000729277700005
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usage-count-last-180-days: '0'
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usage-count-since-2013: '3'
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volume: '31'
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web-of-science-categories: Public Administration; Social Issues
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year: '2021'
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