Women Plan to Make Their Money Grow

Seventy-two percent of women across all ages plan to take steps within the next six months to make their money work harder and grow, according to Fidelity Investments’ “2018 Women and Investing Study.”

Forty-four percent of the women reported investing in stocks and bonds with money they have outside of retirement accounts and emergency funds, compared with 59% of men who said they take this action. The other 56% of women reported not investing, leaving nearly all of their savings in cash or bank accounts, which earn less than 1% in interest.

Only 24% of the women said they are comfortable with their investment knowledge. If given $25,000 to invest, only 44% said they would know what steps to take to do so. Of the working generations, Millennial women appear the most comfortable: 48% said they invest their money vs. 40% each of Generation X and Baby Boomer women.

Thirty-five percent of women said they have $25,000 or more sitting in savings. Forty percent said their finances keep them up at night at least once a month.

“Women need to demand more from their money, so they can control their financial future,” says Kathleen Murphy, president of Fidelity Investments’ personal investing business. “Women deserve to have their hard-earned savings work just as hard as they do every day.”