Millennial women are investing at earlier ages compared to Gen X and Baby Boomer women, a new study from Charles Schwab finds.
The firm’s 2025 Women Investors Survey, which fielded responses from 1,200 women investors who are the primary or joint financial decisionmakers in their households, found that on average, Millennial women began investing at age 27, compared to age 31 for Gen X women and 36 for Boomer women.
All workers surveyed said they began investing to kickstart retirement savings, with a large quantity of Gen X and Boomer women especially motivated to start saving for their retirement needs (62% and 77%, respectively). While 47% of Millennial women admit the same, they were likelier than older generations to develop an interest in investing on their own.
Women likewise say they began investing because they were eligible to participate in an employer-sponsored retirement account, at 40% of Millennial women, 45% of Gen X women and 50% of Boomer women.
Investing at an earlier age could contribute to overall financial confidence levels, as women report enjoying learning how to invest and adding that investing gives them a sense of empowerment. The survey shows that 31% of Millennial women report feeling “very confident” in their investing strategy, compared to 26% of Gen X and Boomer women.
The number of women taking control of their finances and investments has grown in the past years, as more seek out education and resources to expand their financial aptitude. A 2024 report by Fidelity Investments shows that seven in 10 women own investments in the stock market— an 18% jump compared to 2023.
This number isn’t only exclusive to younger women either. Fidelity’s report found that the percentage of Gen X and Boomer women who invest in the stock market also increased heavily, at 18% and 23%, respectively.
“Women are coming to the table earlier, more prepared, and asking deeper questions, which lead to more meaningful and personalized financial planning conversations,” said Jeannie Bidner, head of Schwab’s Branch Network.
Charles Schwab’s survey underlined the types of investments women are capitalizing on, finding that Millennial women were likelier to embrace complex investments like cryptocurrencies (at 51%) options or futures (28%), and alternative investments (24%).
While all women displayed high levels of patience and discipline with their investments, Millennial women placed higher scores in planning/strategy and open-mindedness.
“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,” said Bidner. “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.”
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Amanda Umpierrez is the Managing Editor of 401(k) Specialist magazine. She is a financial services reporter with nearly a decade of experience and a passion for telling stories and reporting news. She is originally from Queens, New York, but now resides in Denver, Colorado.