Wealthy Millennial Women Tend to Defer to Husbands on Investing

Many conversations about girls’s empowerment are targeted on negotiating wage will increase, Ms. Porter mentioned. “However what good does that elevate do you when you don’t know what your financial savings plan goes to be with that little bit of additional cash?” she mentioned. “What good does it do to climb that ladder and get that subsequent higher-paying job with higher advantages when you don’t take the time to speculate that retirement fund appropriately?”

Sallie Krawcheck, chief govt and co-founder of Ellevest, an funding platform for girls, mentioned millennials may not have realized that if they don’t have monetary equality, they don’t have independence.

“Youthful girls haven’t had as many hard-won classes,” she mentioned.

The UBS research has limitations: It didn’t survey the boomers after they had been three many years youthful, the age millennials are at this time, so it’s exhausting to conclude to what extent the differing attitudes are due to age and purchased knowledge versus different modifications. And the ladies surveyed, all of whom had at the least 1 / 4 of 1,000,000 {dollars} in investable property, will not be consultant of their era over all.

Erin Lowry, a private finance adviser and the writer of “Broke Millennial,” mentioned one motive boomer girls could also be extra more likely to view monetary independence as important for equality was that they’ve witnessed what can occur with out it: Many had been raised by moms who had been denied loans or bank cards of their names, she mentioned.

Ruth Bader Ginsburg, because the director of the A.C.L.U.’s Ladies’s Rights Mission within the Nineteen Seventies, litigated a string of instances that paved the way in which for the Equal Credit score Alternative Act of 1974, which prohibited collectors from asking about intercourse, marital standing or using contraception.

“I do know a variety of millennial girls who’re feminists, liberated and no matter, who let their husbands deal with all of the funds,” Ms. Lowry mentioned. “It’s very a lot nonetheless an archetype in heterosexual relationships.”

A graduate pupil in her 30s mentioned that when she acquired married a number of years in the past, her husband made many of the cash and dealt with the couple’s long-term funds. That meant he had extra say than she did in choices like the place their daughter went to high school and the place they went on trip, she mentioned.