ALBANY, N.Y. (NEWS10)- Women are less likely to have personal retirement savings than men, according to the U.S. Census Bureau. Marriage and children understandably have an impact on whether women have retirement savings and how much they have saved.

Overall, 50.2% of women compared to 46.8% of men had no retirement savings. The percentage of men versus women who have savings between $1-$24,999 and $25,000-$99,999 was similar. However, more men (29.6%) compared to women (22.1%) had $100,000 or more in retirement savings.

This could be because women have less money to save and find themselves struggling to catch up to men’s salaries. On average, women earned 84% of what men did in 2020. Women aged 25-34 earned 93 cents to a dollar earned by men in the same age group, according to the Pew Research Center.

Based on Pew Research estimates, women would have to work an additional 42 days to make the equivalent of what men did. Already at a disadvantage, it is more difficult for women who have never been married with children to save money and more so for women who have children from more than one partner.

Unmarried women with children from more than one partner are at the greatest disadvantage, 84.9% have no retirement savings. The percentage of men with children from one or more partners who had no retirement was 77.7%, the Census Bureau said.

Women take more time off from work after having or adopting a child(ren) and are more likely to turn down promotions to balance work and parenting responsibilities. Moms said taking time off had an unfavorable effect on their career or job almost two times as much as fathers, Pew Research said.

The statistics reverse for unmarried women and men that have no children. 39.8% of women in this group had no retirement savings versus 61.4% of men and 29.6% of women versus 19.4% of men had $100,000 or more in retirement savings.