... Reports show that Gen Z is aggressively saving for retirement — and young women are especially motivated to save!
It's hard to believe that it's only been 50 years since women's economic independence took a significant step forward when the Equal Credit Opportunity Act (ECOA) prohibited creditors from discriminating against credit applicants on the basis of their sex or marital status.
Today, studies show that the younger generation, and young women in particular, are focused on financial literacy and independence:
"The [2024] TIAA report showed that more Gen Z women (54%) were saving for retirement in 401(k)s than Gen Z men (44%).
Ms. Viktorin said that number was 'very, very encouraging' for Gen Z women. Historically there has been a gender gap in retirement savings, with women having about 30% less money in retirement than men. But if Gen Z women continue to save at this rate, the gap could start to close, she said."
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