Fidelity CFO Maggie Serravalli says the pandemic has helped drive scores of women into the world of investing as they look to take control of their financial future.
“Women are starting a lot earlier on in their [investing] journey,” Serravalli tells Yahoo Finance Presents.
Data from the investing powerhouse drives home that message.
About 67% of women are investing outside of retirement compared to 44% in 2018, according to a recent study from Fidelity. Roughly 50% of women say they have become more interested in investing during the pandemic.
Other findings include:
-
1-in-5 women report making first-time investments in new asset classes in the past year.
-
67% of women are investing in individual stocks or bonds.
-
90% of women plan to take steps within the next 12 months to help their money work harder to grow, in part by increasing their knowledge of investing and financial planning.
To be sure, once invested in stocks, bonds or ETFs women have shown they are impressive investors.
Analysis of more than 5 million Fidelity customers over the last 10 years finds that, on average, women outperformed their male counterparts by 0.4%.
As for why women are putting more money to work in the markets, Serravalli notes a few key factors.
Serravalli points to them being focused on achieving important goals for themselves or their family. Or, using money earned from investments to make a difference in the world or to leave a legacy for their children.
“We are seeing promising progress in the way women are taking control of their financial futures, particularly younger women,” Serravalli adds.
Brian Sozzi is an editor-at-large and anchor at Yahoo Finance. Follow Sozzi on Twitter @BrianSozzi and on LinkedIn.
Follow Yahoo Finance on Twitter, Facebook, Instagram, Flipboard, LinkedIn, YouTube, and reddit
