Millennial women are investing earlier, and with greater confidence, than their elders

Millennial women start to invest at 27 years of age, on average, jumping into the markets nearly a decade earlier than the Baby Boomers before them.

They are also investing in a broader and more complex range of asset classes, have greater confidence in their investment strategies and are more likely to say they find investing fun and empowering than older generations, according to a new generational analysis out this week from Charles Schwab’s 2025 Women Investors Survey.

The survey of 1,200 American women investors who are primary or joint financial decisionmakers in their households found that the average age Gen Xers started investing was 31 and Boomers at 36. Almost one-third (31%) of Millennial women investors say they feel very confident in their investing strategy while a quarter each of Gen X women (26%) and Boomer women (26%) say the same.

“These really positive shifts with young women investors mirror what we see in our day-to-day work with clients,” said Jeannie Bidner, head of Schwab’s Branch Network, overseeing the firm’s nearly 400 branch locations across 48 states, in a press 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 1, 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,” she said.

Millennial women have come to investing with different motivations and drivers than previous generations, according to the survey. Less than half (47%) started primarily to save for retirement whereas large majorities of Gen Xers (62%) and Boomers (77%) cite retirement as their primary reason for getting started. Millennial women are more likely than older generations to say they got interested on their own or because they wanted to learn.

Additionally, significantly higher numbers of Millennial women say they enjoy investing and that it gives them a feeling of empowerment. Millennial women are also more likely than older generations to see themselves as “investors” and “traders.”

Women doing it their way

The survey finds that Millennial women are more likely to embrace a broader and more complex range of investments beyond more traditional stocks and bonds, including cryptocurrencies, options or futures, and alternative investments.

When it comes to their strengths as investors, all women investors point to their patience and discipline, but Millennial women notably also highlight their strategic planning skills 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. 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,” Bidner said.

While knowledge sharing and tapping their communities to discuss finances is important to women investors across generations, it stands out as a core part of the investing experience for Millennial women, the survey finds. In fact, nearly twice as many Millennial women investors say they participated in an investment club or community when they first started investing than prior generations.

Millennial women investors are also the most likely of those surveyed to see financial conversations as a way to build closer relationships. More than a quarter frequently discuss financial information or advice with others and are more likely to do so with their friends than older generations. They are also more likely to go to friends or leverage social media for financial information, research and advice.

You can learn more about what Schwab offers women investors, from those just starting out to those with decades of experience at the Women in Investing section on Schwab’s website.