Although the percentage of men and women saving for retirement is nearly equal, women need to invest more money for retirement because as a group, they tend to invest more conservatively than men, a recent survey reveals.

The 1999 Women's Retirement Confidence Survey, sponsored by the Employee Benefits Research Institute, the American Savings Education Council and the Mathew Greenwald & Associates, all of Washington, D.C., found that only 27 percent of women polled are willing to take a substantial financial risk for substantial gain. The survey, released in November, is based on the responses of 376 women aged 25 or older.

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