The 2021 Study on Women and Investment produced by the financial services company Fidelity found that 67% of women invest in options other than their retirement accounts. Compared to the 2018 figures, this represents a massive increase of 52%.
Thanks to modern technology, many people can now invest more easily than ever before. Despite the COVID-19 pandemic, job insecurity and greater financial stress, Fidelity’s survey found that 20% of women have invested in new asset classes in the past year . We also saw a record 43% increase in the number of new retail investment accounts held by women and a record 9.2% average in women’s contributions to workplace savings accounts. In addition, over a ten-year period, the study found that investments made by women outweighed investments by men by 0.4%.
Some of the most popular investments were stocks or individual bonds (67%), followed closely by mutual funds / ETFs (63%). 23% of new asset investments were related to cryptocurrency.
The numbers clearly show that the market has gained many new investors. However, there are still many obstacles in the way, but finances do not seem to be the main thing. Namely, women are in a great position to let their money do the work. 47% of survey respondents say they already have $ 20,000 in savings, while 18% have 100,000 or more.
The biggest obstacle is the lack of investment know-how. It’s a bit surprising, especially since we live in the age of robot advisers and other tools that simplify the investment process. Only 41% of female investors said they felt comfortable with their level of investment knowledge. 65% said they would be more likely to invest if they were more confident in the actions they should take.
One of the most interesting results is that almost 69% of women wish they had started investing much earlier. Looking ahead, 62% plan to learn more about financial planning and investing. 52% want to create a plan to help them reach their financial goals and 44% plan to bring in a finance professional. Finally, 42% of American women plan to invest more of their savings and let the money work for them in the future.