Women are taking more control of their share of wealth, and with it they’re entering the market earlier and with more confidence than past generations. They’re projected to control roughly $34 trillion, or about 38% of U.S. investable assets by 2030, up from $7.3 trillion (29%) a decade earlier.¹ It’s time to pay attention because younger women are already a force in the financial landscape, and their share of assets is only going to grow.

How the great wealth transfer is playing out across generations

A large amount of wealth is expected to move from baby boomers and older generations to their heirs and to charity through 2048. Cerulli projects $124 trillion in total transfers over that period, and Gen X and millennial heirs together are set to inherit roughly $85 trillion of it.²

That’s a call to financial professionals to welcome and better serve these investors who are on the cusp of building their financial journeys.

Younger women are saving earlier, with more confidence

Millennial women started investing at an average age of 27, compared with 31 for Gen X women and 36 for baby boomers.³ The data also shows that 31% of millennial women feel confident in their investing strategy, compared to 26% of those in Gen X and 26% of baby boomers. That intentionality shows up against men who invest, as well, with about two-thirds of younger women saying they invest with a specific goal in mind, compared with 56% of younger men.⁴

Many younger women know saving earlier helps open the door to future options like a career pause for family or other personal priorities. With guidance, they can do more with their money and enjoy increased flexibility as they get older. Compared with their predecessors, younger women tend to arrive more informed and self-directed. As a financial professional, you can bring these clients to the table quickly by opening with strategy and trade-offs since many younger women already understand the fundamentals and are ready to go deeper.

The motivations to invest vary but differ from older generations

Less than half (47%) of millennial women started investing for retirement alone versus 62% of Gen X and over three-quarters of the baby boomer women. Instead, many younger women say they became interested in investing simply to learn the practice of it.³ Younger women are investing for bigger life goals and values, and many describe it as fun and empowering. This cascades into their desire to do more and be more proactive with their money.

Between 2019 and 2023, women in the U.S. started roughly twice as many new businesses as men, and younger women are the fastest-growing segment of new business owners.⁵ Many invest from lived experience and learning from others. They seek out information, having grown up in a financial services landscape that wasn’t built for them or by them.⁵

That broader mindset doesn't mean retirement isn’t important, but it’s not the whole story. Younger women still want their money to help them work toward the future. They're looking for tools that support their goals along the way. The accumulation potential and income guarantees offered by annuities can offer that flexibility, giving them room to keep building wealth today while creating guaranteed income for tomorrow, in retirement, investing in a business or whatever they decide.

Tips for helping build trust with younger women

• Anchor conversations in their life goals and values.
• Speak to business owners about irregular income and liquidity needs.
• Don’t mistake their confidence for a lack of interest in guidance.

If you fully engage them early, you can become a trusted voice later.

Younger investors are digital, social and research-driven

Gen Z and millennial investors (men and women) say social media shaped their investing decisions. Gen Z investors are nearly five times as likely to get financial advice from social media as adults ages 41 and over.⁶ They turn primarily to YouTube for it.

Younger investors prefer apps with strong user interfaces, while older generations value tools that offer low fees and account linking.⁶ It’s an important distinction when recommending digital products. It shows you understand what younger investors are seeking.

Younger women investors are digitally inclined and informed. Because they're proactive, they've likely done some homework before they meet you. Millennial women are far more likely than older generations of women to turn to social media for financial information, research, and advice, at 42% versus 30% of Gen X women and 6% of boomer women.³ A big step you can take now is to make sure you're findable and credible on the platforms they use most.

A website, video or LinkedIn presence that speaks to entrepreneurship and financial independence shows you understand their priorities.

Build your practice as a welcoming force

You can prepare before you even begin working with younger women clients. Women’s financial decisions are often shaped by life events such as career pauses, caregiving and divorce. If a practice’s messaging only addresses wealth preservation for existing clients, it’s difficult for a younger woman to see her specific situation. Here are some ideas to consider:

• Start by auditing your materials through the lens of a younger female investor. Does your content speak to her life stage?
• Know what questions to ask about goals and values before you bring up a single product.
• Be explicit about your processes and fees, because younger women expect transparency.
• Think about the long term from day one. A younger woman with $50,000 in investable assets today could be a significant client in five years.
• Invite dialogue, ask about communication preferences, and consider how diverse the representation on your team is.
• Show that you’ll plan around their full life, accounting for longer lifespans and goals-based priorities that reach beyond retirement.

The next step is to earn trust and keep it

Younger women investors arrive informed and expect a collaborative, two-way conversation. Before any prospecting talk, try to learn three things about her life beyond her assets. This could include family, business or career, travel plans, retirement goals, or home ownership. This homework can show that you’re ready for a deeper conversation on goals.

Communicate, listen and educate with their style in mind, creating a welcoming environment and taking a collaborative approach. And engage before this audience needs you, building relationships through digital, educational and personalized touchpoints ahead of the life event that forces the conversation.

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