Millennial women are starting to invest nearly a decade earlier than boomer women did, a new generational data analysis reveals.
Their investments include a broader and more complex set of asset classes, they have more confidence in their investment strategies, and they are more likely to find investing fun and empowering than older generations, according to the analysis of Charles Schwab’s 2025 Women Investors Survey.
The survey, which questioned 1,200 American women investors who are primary or joint financial decisionmakers in their households, found that the average age that Millennial women started investing is 27, compared with to Gen Xers who started at 31 and boomers at 36. Among Millennial women investors, 31% are very confident in their investing strategy while a 26% of both Gen X women and boomer women express the same level confidence, Schab reported in a news release on the findings.
Millennial women investors have different motivations and drivers than those of previous generations. According to the survey, 47% started primarily to save for retirement, in contrast to previous generations, where large majorities were motivated by retirement: Gen Xers (62%) and Boomers (77%).
Millennial women are more likely to say they a desire to learn motivated them to start investing. Millennial women are also much more likely to say they enjoy investing and the feeling of empowerment it gives them. They are more likely to see themselves as “investors” and “traders.”
“These really positive shifts with young women investors mirror what we see in our day-to-day work with clients,” Jeannie Bidner, Head of Schwab’s Branch Network, said in the release. “Women are coming to the table earlier, more prepared, and asking deeper questions, which lead to more meaningful and personalized financial planning conversations. From day one, Schwab’s mission has been about empowering more people to get invested and reach their financial goals by removing barriers and providing access to products, education and services. We’re thrilled to see younger women own the role of investor with confidence and are excited to support them in shaping their futures,” said Bidner, who oversees the firm’s nearly 400 branch locations across 48 states.
Off the Beaten Path
Millennial women are more likely to embrace a broader and more complex range of investments beyond traditional stocks and bonds, including cryptocurrencies, options or futures, and alternative investments.
In one area of commonality, all women investors point to their patience and discipline as being among their strengths as investors, But Millennial women also cite their strategic planning skills and open-mindedness.
“Younger women investors are off to a good start when it comes to embracing core investing principles like patience and discipline, though there is room for them to continue to strengthen those important characteristics, which often comes with time and experience,” said Bidner. “What’s interesting, is that younger women investors are more likely than older peers to be focused on building their base of knowledge and thinking through their plan and the options that are out there. It speaks to the heightened level of engagement we see among Millennial women and the importance of investing and financial education and resources – a big focus for Schwab.”
A Community Approach
Knowledge sharing and discussing finances with their communities is important to women investors of all generations, but it’s a core part of Millennial women’s investing experience, the survey finds. Almost twice as many Millennial women investors participated in an investment club or community when they began investing than older generations. Millennial women are most likely of the generations to view financial conversations as a means to enhance relationships. Over 25% often discuss financial information or advice with others and are more likely to do so with their friends. They are more likely to go to turn to social media for financial information, research and advice.
“At Schwab, we believe that investing is key to financial freedom, and we are constantly working to engage people across generations to help them unlock the power of investing – but on their own terms. The way that Millennial women are making investing their own and creating a network effect by sharing their learnings is an important emerging trend, and we’re excited to support them in that effort,” said Bidner.
Logica Research conducted the online survey Jan. 7 to 23 among 1,200 women investors across the United States, 21 and older, with at least $5,000 in investable assets and who are primary or joint financial decisionmakers in their households. For more information, go here.
