Since the crisis hit, 77 percent of women say they worry more now about being able to make ends meet, up 16 percentage points from a similar poll conducted in April 2008.

Focus on securing a sound retirement is also a main concern. Since October 2008, about 85 percent of women surveyed say that having a guaranteed source of retirement income for life is highly important -- up from 72 percent in April 2008.

Though more preoccupied with financial matters, women are not taking the long-term action necessary to achieve their goals. Specifically, less than half of women surveyed report having a primary financial professional, down 18 percentage points from last April. Women have also reduced the number of investment products they own.

Women and Financial Professionals

Women who use financial professionals are more focused on their financial situations and this could potentially have a positive effect on their retirement. Notable results include:

• Women closer to retirement age or in retirement are most likely to consult with a financial professional. Almost half (47%) of women aged 55 and older have a primary financial professional, while 64 percent of retired women are likely to have a financial professional.
• More than seven in ten (71%) women with financial professionals consider preserving assets for retirement significantly more important, compared to just 60 percent of women without financial professionals.
• Among women planning to postpone retirement, those with financial professionals predict they will have to work less to offset their losses from recent market volatility and will retire, on average, two years earlier than women without financial professionals.

"It's clear that women see the value in consulting with financial professionals as they get closer to retirement, and that the relationship is making a difference for them," said Andrew McMahon, executive vice president of Retail Distribution for AXA Equitable and chairman of AXA Advisors, LLC, the company's broker/dealer. "Equally, if not more important, however, is that women need to reach out earlier so they can make the informed choices and take the actions necessary to get their financial strategies on track, with the overarching goal of securing a sound retirement."

Generational Differences

The latest survey, which marks the first time that AXA Equitable has released results that compare the behaviors and attitudes of women across generations and by employment, showed some stark differences based on life stages. Of those surveyed:

• About three-quarters (73%) of all Baby Boom women (aged 45-64) indicate their personal financial situation has worsened, in contrast to only 60 percent of Generation X women (aged 35-44).
• Only 65 percent of Generation X women believe having a guaranteed income source is highly important, compared to 88 percent of Baby Boom women aged 45-54.
• Almost two-thirds (64%) of Baby Boom women aged 55-64 predict the economy will worsen and 45 percent feel their personal financial situation will decline over the next 12 months.
• Of all women, Baby Boom women aged 55-64 are also the most likely to take action. More than a third (36%) have already made changes to their investments, products or financial institutions, while 59 percent of Generation X women do not plan on making any changes at all.

Women Business Owners Hit Harder

Women business owners have been hit harder by the market turmoil than other women. They report significantly greater financial losses and have a more negative outlook for the future. Of those surveyed:

• More than three-quarters (76%) of women business owners say their personal financial situation has declined, in contrast to 61 percent of women working for employers.
• Half of women business owners indicate they need to postpone their retirement an additional four years due to market conditions, compared to 42 percent of other working women.
• A quarter of all women business owners have decreased their savings compared to just 14 percent of working women.

"It's not surprising that women business owners are facing greater challenges," said Ms. Goodstein. "They are faced with not only keeping their businesses profitable and helping their employees with retirement plans, but also building their own retirement assets at the same time."