We surveyed 2,000 women on money, investing, and financial goals to find out which issues investors care about most.Explore the results
While Global Investor Pulse research has revealed that millennials as a whole are one of the most engaged and optimistic group of investors, key differences exist between women and men in their decision-making styles, investing behaviors and views on technology. Female millennials are focused on growing wealth – and this has differentiated them from their parents. However, when it comes to other critical behaviors around financial engagement, millennials still have work to do.
Throughout their lives, women tend to be more concerned with spending and budgeting than investing for the long term. Only 22% of women consider themselves to be investors, and women generally admit that they are more disciplined in their approach to saving (65%) than investing (50%). However, when women reach retirement, they need to contend with the fact that they have to plan for the long term so the savings they accumulated while working can last throughout their retirement.
There are different kinds of approaches to making financial decisions within partnerships. Sometimes one partner is the primary decision maker and in other cases couples work together closely. Some couples make long-term financial decision making an important priority while others let it fall by the wayside. These dynamics naturally have consequences for a woman’s financial health in an immediate sense, but financial decision-making habits may help or hinder a woman's financial preparedness should she become single again as well.
94% of women have personal goals that require money, but only 28% of women say growing their wealth is an important priority. Plus, only 32% of women who invest say they started doing so because they realized investing was a smart way to reach their goals. Not all women are making the connection between aiming for a long-term goal and investing in order to build the wealth to achieve that goal. Rather than life events by themselves prompting women to develop an interest in investing, it’s the basic prioritization of growing wealth as a way to accomplish goals that drives engagement with investing.
Millennial women 37% prioritize growing wealth almost as much as millennial men 39% do.
34% of women let their partners handle retirement decisions and are also most likely to say they will think about retirement when they get there.