For instance, compare a person starting to invest at age 25 to a person starting at age 40. The earlier a person starts to invest, the more time compounding can make an impact on the balance. Meanwhile, when women age 36+ reflect on their biggest financial mistakes, more than one-third (36%) say they waited too long to start saving for retirement - the most common regret cited. No surprise, the pandemic has caused many people to reevaluate their finances and in the case for some younger women, this was the time to start investing with 50% reporting they have started to invest in the past six months, or they plan to do so in the next six months. “We continue to see more women than ever investing outside of retirement accounts – in fact, our research shows more than two-thirds are doing so – and that momentum is being driven by the next generation who is redefining what it means to ‘invest like a woman.’ That means starting early, starting small, and staying focused on goals that align with what’s important to them.”īeyond opening a brokerage account by age 21, Fidelity’s Money Moves Study shows that younger women also opened a retirement account even earlier, age 20, compared to their older peers who opened one at age 34. “ Women's History Month is a time to celebrate the achievements of women including the powerful money moves women have been making – especially during the last two years of unpredictable events and extraordinary pressure,” said Lorna Kapusta, Head of Women Investors & Customer Engagement, Fidelity Investments. This is consistent across generations, and Fidelity makes it even easier, offering zero minimums to start investing, zero commission trades and the ability to place a trade with as little as $1. Start Small – More than one-third (35%) of younger women say they started investing with a small amount of money to get comfortable first.While this is evident among all women, it’s higher among the younger generation (43% versus 34%). Invest With Purpose – When asked what they are most proud of in respect to their finances, women report events that have personal meaning and purpose: achieving important goals for themselves or family, using money to make a difference or leaving a legacy for their children.Start Early – On average, the next generation of women (18-35 years old) started investing in a brokerage account at age 21, compared to age 30 for older women 1 who started to invest during the same age frame.BOSTON-( BUSINESS WIRE)-To mark the start of Women’s History Month and celebrate financial wins, Fidelity Investments ® today shared the results of its 2022 Money Moves Study revealing three saving and investing behaviors that stand out among younger women, ages 18-35 years old, as this next generation makes strides in breaking down financial boundaries:
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