A new survey from ING DIRECT and DailyWorth.com reveals that women are not as prepared for retirement as their male counterparts. In fact, women are out of touch when it comes to the basics of setting up a retirement plan, expressing surprising levels of fear when it comes to their golden years, the survey says.

Nearly eight in ten (78 percent) women say they lack financial savvy (or they are still learning) about retirement planning. As a result, more than one in three married women hand over the reins for their retirement planning to their spouse or significant other. However, many women understand the importance of preparing for their future, as a quarter of women (23 percent) acknowledge that they should pay more attention to retirement planning.

Other survey findings included:

• Nearly 30 percent of women have no idea what their main source of retirement income will be.
• Forty percent of women don't know what kind of retirement lifestyle they want.
• Nearly half (49 percent) wish they knew more about the basics of investing, including picking the right stocks or funds, and portfolio and risk management.
• Thirty-seven percent of women blame a lack of time, complicated Wall Street jargon, and trouble with their everyday expenses as hurdles that prevent them from being investing savvy.

Self-identity crisis