Millennial women in the United States are entering the world of investing nearly a decade earlier than Baby Boomer women, according to Charles Schwab’s 2025 Women Investors Survey. The average Millennial woman began investing at age 27, compared to 31 for Gen X and 36 for Boomers.
This younger start is matched by a willingness to invest in a wider range of assets, including cryptocurrencies, options, and alternative investments.
Millennial women are not just starting earlier—they are also more confident. About 31% say they feel very confident in their investment strategies, compared to 26% of both Gen X and Boomer women.
They are also more likely to say that investing is enjoyable and empowering. Over half (51%) of Millennial women strongly agree they enjoy investing, while only 39% of Gen X and 18% of Boomers feel the same. A sense of empowerment is also higher among Millennials, with 56% strongly agreeing, compared to 48% of Gen X and 28% of Boomers.
Millennial women are motivated by different reasons than previous generations. Less than half (47%) started investing mainly to save for retirement, while 62% of Gen X and 77% of Boomers cited retirement as their main reason.
Millennials are more likely to say they began investing out of personal interest or a desire to learn, and 12% say they started for fun—three times the rate of Boomers.
These women are also more likely to see themselves as investors or traders. About 73% of Millennials consider themselves investors, compared to 61% of Gen X and 47% of Boomers. When it comes to trading, 37% of Millennials identify as traders, compared to 23% of Gen X and just 11% of Boomers.
Millennial women are embracing a broader set of investment options. Over half (51%) have invested in cryptocurrencies, compared to 31% of Gen X and only 7% of Boomers. They are also more likely to have experience with options, futures, and alternative investments.
When asked about their strengths, Millennial women highlight patience, discipline, strategic planning, and open-mindedness. They are more likely than older generations to focus on building knowledge and planning their investment approach.
Community and knowledge sharing play a key role for Millennials. Nearly twice as many Millennial women (16%) participated in investment clubs or communities when they started investing, compared to 8% of Gen X and Boomers.
Millennials also discuss financial information more often with friends and are more likely to use social media for investment research and advice—42% of Millennials, compared to 30% of Gen X and only 6% of Boomers.
Jeannie Bidner, Head of Schwab’s Branch Network, says these trends show Millennial women are coming to investing earlier, better prepared, and more engaged in financial planning. Schwab sees this as a positive shift and is focused on supporting younger women as they shape their financial futures.
The survey was conducted online in January 2025 among 1,200 U.S. women investors who are primary or joint decision-makers in their households and have at least $5,000 in investable assets.
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