More young women saving for old age

More young women saving for old age

Young women are more financially savvy than other age groups, Sarah Melvin, chief operating officer for Emea retail for BlackRock, has claimed.

Ms Melvin said: “It is promising to see that young women are already starting to take ownership of their investment horizons and many recognise that the state will not be there for them in retirement.”

BlackRock research among 27,500 people globally, including 2,000 in the UK, revealed that in Britain, women aged 25 to 34 were saving and investing more than other age group.

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The research also found 54 per cent of women had begun saving for retirement, 16 per cent of women considered themselves to be active investors and 46 per cent felt confident about their financial decision-making.

It found 35 per cent preferred investing for the long term and 22 per cent saved and invested each month.

Adviser view

Jaskarn Pawar, financial planner for Northamptonshire-based Investor Profile, said: “People are probably getting more financially savvy as a result of there being a real push for more financial education.”