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Gen Z women are more likely than millennials to save for retirement

The generation of women aged 18 to 26 are starting to invest in their future retirement earlier than previous generations. By retirement age, women can catch up with men in savings. The difference between the savings of men and women of retirement age is about 50% now.
Gen Z women are more likely than millennials to save for retirement

Fidelity, the largest financial services company in the United States, reported a 48% increase in new female customers compared to 2019. Of these, 48% are millennials, while the number of zoomer clients has doubled.

Over 70% of female investors are representatives of generation Z - from 18 to 26 years old. Active investing helps achieve financial stability for retirement and reduces the gender gap in savings, Fidelity notes.

More than 67% of women are saving for retirement; this index has grown from 2019. While men, on the contrary, are saving less - 77% compared to 82% in 2019. One of the reasons why zoomers are starting to save earlier for their future retirement is the 401(k) plan in the US workplace.

401(k) is a retirement savings plan offered by employers in the United States. A percentage of each salary is transferred by an employer to a special investment account. An employee can choose one of investment options.

Source: https://incrussia.ru/news/dengi-na-pensiyu/

Photos are from open sources.

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