An overwhelming number of American women are more concerned about their financial security as they get older, yet most are spending little time planning for retirement.

That's according to a survey sponsored by SunAmerica Inc., a Los Angeles-based company that markets mutual funds and annuities.

Though 78% of the respondents said they are planning for retirement. one-third had no idea how much money they would need, and two-thirds had never met with a financial planner.

By comparison, American brides devote an average of 180 hours and $16,300 to planning their weddings, with many seeking the guidance of a professional bridal planner, according to the report.

SunAmerica manages $23 billion of assets and derives 10% of its sales from banks.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.