Women More Concerned About Retirement Savings Than Men

Saving for retirement is important, as those dollars that are stored away now can prevent debt from compiling in the future.

However, a new study found that women investors were more likely to think frugally about their retirement than members of the opposite sex.

The study, conducted by iShares, found 21 percent of male investors said they were aggressive in their approach to investing for retirement, while only 9 percent of females described themselves this way.

"Men 'live in the present' when it comes to general investing whereas women make plans for the future," said Mary Anne Wiley, managing director and Head of distribution at iShares. "In contrast to men, women rely on other sources of income to reach their retirement goals - it's no longer enough to depend on public and private pension plans for retirement income."

Females were also more likely than men to say that supplementing their pensions in retirement was important, while 65 percent of women said that maintaining their lifestyle was one of the biggest factors in saving for retirement.

Recent reports have cited that the number of Americans filing for Chapter 7 bankruptcy has been on the rise, as more seniors have fallen into credit card debt.