More and more women are stepping into the world of investing, with a significant 42 per cent increase in female investors this year, a big jump from the 18 per cent increase witnessed in 2022. A study conducted by financial planning firm, FinEdge, surveyed 3,763 women clients aged 23 to 76 during August 2023 for Women's Equality Day.
The study found that many women are now focused on planning for their retirement, with 30.82 per cent of them considering it their most important goal. This marks a major change in how women handle money. The study also found that women are showing determination in their goal-oriented investment plans. This shows their commitment to long-term financial goals. Moreover, women have also exhibited their mettle in goal-centric Systematic Investment Plan (SIP) endeavours.
Looking at different regions, the study found interesting trends. In the West and North of India, , there are more women investors, at 34.54 per cent and 32.98 per cent, respectively. But in the East, the number is far lower, with only 7.54 per cent women investors.
Another interesting fact gleaned from the study is that women are saving five per cent more of their income each month for their future goals. These indicators show that women are becoming more engaged in investing, saving more and focusing on their long-term financial plans.