Women’s appetite for risk in fund savings is increasing, according to a new analysis by Swedbank. 70% of women say that it is important for their long-term savings to grow over time. This is an increase from last year when the figure was 64%. The corresponding figure for men is 82% this year, up from 80% last year.
Interest in saving is at an all-time high among women, who historically have taken fewer risks and saved lower amounts. But now, their risk appetite is increasing.
“It is clear that more and more women want to take control of their finances. Above all, they want to learn more about funds, stocks, and pensions. Where to invest their money is of growing interest to many,” says Madelén Falkenhäll, financial health economist at Swedbank.
Men, however, still have a higher willingness to take risks with their savings, resulting in higher returns over time.
“After 13 years, men’s savings capital is twice as large as women’s. Over twenty years, it amounts to many millions – even if they have saved the same amount each month,” according to the analysis.
But the shift in risk appetite could result in some of the economic inequality between genders being blurred.
“Personal savings are key to financial empowerment. The fact that women now seem willing to take slightly more risk in their long-term savings is positive because it increases the opportunities for returns. It will not eliminate the differences in savings capital between women and men, but it can at least contribute to reducing the gap,” says Madelén Falkenhäll.
This shift in women’s attitudes towards risk and investing represents a significant step towards financial equality and empowerment. As more women take control of their finances and seek to grow their savings through investments, the potential for narrowing the gender wealth gap becomes more achievable. By embracing risk and educating themselves about financial opportunities, women are setting themselves on a path towards greater financial independence and security. It is a trend that signals a positive shift in the financial landscape, one that holds promise for a more equitable future for all.