In a recent survey aimed at understanding women’s investing patterns, Indian investment platform Groww reached out to above 2.5 lakh Indian women and garnered more than 28,000 responses.
On the occasion of International Women’s Day on March 8, the survey attempted to understand women’s investing habits in terms of their goals and how they view wealth creation.
Key findings revealed that younger women in the age group of 18-25 years prefer mutual funds, no matter their income bracket.
The study also found that stocks are more popular among women than traditional options such as Fixed Deposit (FD). A market shift showed that women, especially, younger women, are increasingly willing to explore wealth-generating avenues in capital markets.
While 25 per cent of women made investments in gold, 40 per cent women earning more than Rs 10 lakh invested in gold.
Women who earned more than Rs 30 lakh per annum are more interested in investing in real estate. Only 6 per cent of women earning above Rs 30 lakh and just 4 per cent women making less than Rs 10 lakh yearly invested in Cryptocurrencies.
"The investment goals change with income and age," the survey said. Almost 70 per cent women in the Rs 30 lakh plus salary bracket cited early retirement as their main reason to invest.
26 per cent of women, making Rs 5 -10 lakh per annum, invest to retire early. In addition, 64 per cent women over the age of 35 cited marriage and their children's education as the main reason to invest. 50 per cent of women investors said ‘personal goals’ were a good reason to make investments.
The survey also studied insights from about 2000 women who did not invest. 49 per cent of them cited ‘lack of knowledge’ as the reason for the same.
(With agency inputs)