{"id":31071,"date":"2025-06-17T09:43:30","date_gmt":"2025-06-17T09:43:30","guid":{"rendered":"https:\/\/financialrush.com\/?p=31071"},"modified":"2025-06-17T09:43:30","modified_gmt":"2025-06-17T09:43:30","slug":"most-women-wish-they-started-investing-sooner-schwab-finds","status":"publish","type":"post","link":"https:\/\/financialrush.com\/?p=31071","title":{"rendered":"Most women wish they started investing sooner, Schwab finds"},"content":{"rendered":"

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D3sign | Moment | Getty Images<\/p>\n<\/div>\n<\/div>\n<\/div>\n

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Women<\/a> who invest began at an average age of 31, but most wish they had started putting money in the market earlier, a recent survey said.<\/p>\n

Nearly all \u2014 90% \u2014 of the women investors surveyed said they’re “on the right track” to achieve<\/a> their financial goals, according to the survey<\/a>, by Charles Schwab, an investment and financial services firm.<\/p>\n

However, 85% share a common regret \u2014 they said they wish they had started investing at an earlier age, the survey said.<\/p>\n

When the age is broken down by generation, Schwab found<\/a> that millennials began investing at age 27, on average, Gen Xers’ average starting age was 31, and baby boomers started at an average age of 36.<\/p>\n<\/div>\n

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More from FA Playbook:<\/h2>\n
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Here’s a look at other stories affecting the financial advisor business.<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n

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Schwab polled 1,200 women in the U.S. ages 21 to 75 in January. The report said they each had at least $5,000 in investable assets, not including retirement accounts or real estate, and were all primary or joint household financial decision-makers.<\/p>\n

Some of the top reasons respondents said they began investing later in life than they would have liked were a lack of financial knowledge, 54%, and limited funds to invest, 53%, according to Schwab’s report.<\/p>\n

There’s an advantage in getting started with investing as soon as you can, even if you don’t have much to contribute at first: You’ll benefit from time in the market, according to Carolyn McClanahan, a certified financial planner and founder of Life Planning Partners in Jacksonville, Florida.<\/p>\n

“Start saving while you’re young because you have lots of years for your money to grow,” said McClanahan, a member of CNBC’s Financial Advisor Council<\/a>.\u00a0<\/p>\n<\/div>\n

‘It’s a get-rich-slowly scheme’<\/h2>\n
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An early start to investing harnesses the power of compounding<\/a>.<\/p>\n

Compound interest means your money earns interest on both the original amount you invest and on the interest you’ve already earned, said Jeannie Bidner, a managing director and head of the branch network at Charles Schwab. Compound returns<\/a> are broader, and typically include other types of investment gains, such as dividends and capital gains.\u00a0<\/p>\n

Compounding creates a “snowball effect” for your cash, she said. “The sooner you get started, the better.”<\/p>\n<\/div>\n

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Let’s say a person begins at age 25 investing $6,000 per year, with an average 7% annual return. By the time they’re 67 years old, the account balance would be almost $1.5 million, according <\/a>to Fidelity Investments. If that individual delays starting to invest until age 30, they would end up with just over $1 million by retirement.<\/p>\n

In other words, that five-year head start offers a bonus of nearly half a million dollars.<\/p>\n<\/div>\n

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It’s not just about getting a head start. Staying invested through major market swings and sticking to your plan are essential to meeting your financial goals.<\/p>\n

More than half, or 58%, of the women in the survey said they learned to stay invested despite the ups and downs of the market, Schwab found, and 42% said they learned to create a plan and stick to it.<\/p>\n

While market volatility can “feel like you’re at a casino,” it’s important to disregard the major swings and focus on your long-term outlook, Katie Gatti Tassin, author of “Rich Girl Nation: Taking Charge of Our Financial Futures,” said at an event Wednesday at 92NY, a cultural and community center in New York.<\/p>\n

“It’s not a get-rich-quick scheme, it’s a get-rich-slowly scheme,” Gatti Tassin said.<\/p>\n<\/div>\n<\/div>\n\n
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