👯 From Saving to Thriving: Why Women Need to Invest, Not Just Save

Let’s be real, when it comes to money, women tend to think of themselves more as savers than investors. We’re experts at budgeting, finding the best deals, and putting money away for a rainy day. But here's the thing: while saving is important, it’s investing that really grows our wealth over time. If we keep thinking of ourselves only as savers, we're missing out on the powerful benefits of compound interest and long-term growth.

To be clear: Women aren't less capable investors

It’s actually quite the contrary. When women do invest, they often outperform men by nearly 40 basis points, according to Fidelity Investments. This advantage stems from several strengths: women are often less benchmark-driven, tend to research more thoroughly, trade less frequently, plan for the long term, and maintain more diversified portfolios.

So, why the disconnect? It’s not that we can’t handle our finances; it’s that somewhere along the way, society decided that money talk or investing was more of a boys’ club. Many women report feeling that financial information isn't designed for them or that they need more knowledge before getting started. This hesitation creates a delay in building wealth that compounds over time.

Why You Need to Build That Investment Portfolio ASAP

Financial independence isn’t just another adulting checkbox, it’s your ticket to living life on your own terms. Think about it:

• That toxic job with the handsy manager? Bye.

• The relationship that drains you? Thank you, next!

• The dream of starting your own business? Let’s make it happen.

• A future where you’re living your ultimate slow life in your farmhouse? Yes, please!

Women typically live longer than men, earn less over their lifetimes, are more likely to take career breaks for caregiving, and are just in general likely to get hit with more financial curveballs. This means we need more money in the long run, not less. And I hope by now we’re clear that we’re not talking about just saving money but also strategically growing it.

It’s Not Too Late to Get Started

No, you don’t need to start watching CNBC all day or start with a huge amount of money. Here's how to dip your perfectly manicured toes into the investment waters:

• Begin with education, not pressure: Familiarize yourself with basic investment vehicles like index funds, ETFs, and retirement accounts. Resources like Ellevest, an investment platform designed for women, offer educational content alongside investment options.

• Start small, but start now: Even $20 a month in an index fund beats $0 in no fund. Most investment apps let you start with pocket change, literally. Check out Alinea Invest or Acorns to get started.

• Find your community: Seek out investment clubs, online forums, or financial advisors who understand women's unique financial journeys and can provide supportive guidance. Also, check out Blossom. It’s a fun social media platform for investing (my favorite app at the moment)!

• Play the long game: Research suggests women's tendency toward patience and thoughtful decision-making serves them well in investing. Use these strengths and stay the course!

• AUTOMATE!: Set up automatic transfers so you invest before you even see the money. You won't miss what you never saw, plus it keeps you consistent without the monthly willpower battle.

• Be willing to take more risks: Women are natural savers, but saving alone won’t build wealth. Investing comes with risks, but smart, calculated risks lead to growth. It’s time to shift from just protecting money to making it work for you!

Ladies, our conversations need to change

I can name my friends’ complicated coffee orders by heart, but I have no idea if any of them are investing for retirement.

When the bill comes at happy hour, we’ll Venmo each other down to the penny, yet we never share tips on how to grow those pennies into something substantial.

What if investing talk became as normal as debating which skincare products are worth the splurge? What if we normalized checking our investment accounts as regularly as we check Instagram?

This Women’s Day, I’m challenging myself and you to start dropping money moves into conversation. Maybe it’s as simple as “Hey, I just started investing in this app, have you tried it?” or “I’m thinking about opening a Roth IRA, do you have one?”

Financial independence isn't optional for women—it's essential. And investments aren't just a tool, they're your most powerful ally on the journey to true freedom.

👵 What an 80-Something Couple Taught Me About Planning for the Future

Between sky-high NYC rent, the perpetual job market chaos, and the general dumpster fire that is the world economy right now, retirement has felt like some mythical concept that exists only in fairy tales. Something my generation might never experience.

Or at least that's what I thought until I met Sheila and Lew.

The Couple That Changed My Perspective

At 84 and 85, this vibrant couple, who have been married for over 60 years, has become an unexpected fixture in my life. I see them almost weekly, and their lifestyle has completely transformed how I think about aging and retirement.

Every time we meet, they're buzzing with plans: their annual trip to their timeshare in Aruba, an upcoming weekend at a Manhattan hotel, family gatherings all year round. They sit at bars ordering cocktails, strike up conversations with strangers (and make friends!!), and live with more energy and freedom than many people half their age.

Now you might think they inherited family money or built successful high-powered careers. Nothing could be further from the truth. Sheila and Lew came from modest backgrounds and worked simple jobs their entire lives.

What made their comfortable retirement possible wasn't an extraordinary income—it was extraordinarily consistent investing over time. With help from a financial advisor early on, they put money into a diverse mix of stocks, real estate, and yes, that Aruba timeshare that's now one of the many highlights every single year.

They didn't get rich quick. They got free slowly.

Gen Z's Retirement Reality Check

Their story hit me differently because it contrasted so sharply with how my generation approaches financial planning. According to a 2023 Bank of America study, while 43% of Gen Z has started saving for retirement (impressive!), a concerning 57% either haven't started or don't know how.

The statistics paint a complicated picture of my generation:

• We're starting to save earlier (average age 19) than previous generations

• Yet 67% of us don't believe Social Security will exist when we need it (for all good reasons)

• 73% of us expect to keep working in some capacity during "retirement"

• We're facing housing costs 70% higher than Boomers did at our age

No wonder retirement feels like fantasy. But Sheila and Lew are living proof that it doesn't have to be.

What Retirement Actually Looks Like (When Done Right)

What strikes me most about this couple isn't just their financial comfort; it's their freedom. They wake up each day and choose what to do with it. Their calendar fills with wants, not obligations.

This vision of retirement—not as a rocking chair on a porch, but as a second youth with wisdom and without financial stress—is something worth planning for.

And surprisingly, despite all the economic headwinds Gen Z faces, we actually have some major advantages over previous generations when it comes to building this kind of future:

1. Time: Starting at age 25 versus 35 can literally double your retirement savings

2. Technology: Investment apps and AI have eliminated barriers to entry

3. Information: Free financial education is everywhere (though filtering the noise is challenging)

4. Income sources: Tech and AI have enabled unique and new ways to make money (hello, social media)!

Building Your Sheila-and-Lew Life: Practical Steps

So how do we actually build that enviable octogenarian lifestyle? After my conversations with them and diving into research, here's what I'm focusing on:

1. Start with whatever you have

The math is clear: starting with $20 a week at age 25 creates more wealth than waiting until you can afford $100 a week at 35. According to Fidelity, investing just $50 a month from age 25 could grow to over $175,000 by retirement age (assuming historical average returns).

Apps like Acorns, Stash, and Robinhood have eliminated minimum investment requirements. No excuses.

2. Get every cent of employer matching

If your employer offers 401(k) matching, prioritize contributing at least enough to get the full match. It's literally a 100% return on investment.

3. Think beyond stocks

While the stock market is essential, Sheila and Lew's portfolio diversity was key to their security. They had:

• Traditional retirement accounts (401(k)/IRA)

• Rental property (started small with a family home they also lived in)

• Their vacation timeshare

For Gen Z, this might translate to:

• A mix of retirement accounts (stocks, ETFs, bonds, mutual funds, etc.)

• Real estate investments (possibly through fractional ownership platforms like Arrived Homes if full property ownership is out of reach)

• Alternative assets like cryptocurrency (in modest proportions since crypto is super volatile)

4. Consider the FIRE approach

The Financial Independence, Retire Early movement has particular relevance for our generation. While the traditional version (saving 50-70% of income) seems extreme, modified approaches like:

• Coast FIRE: Save aggressively early, then coast with minimal additional contributions

• Barista FIRE: Build enough investments to cover major expenses, work part-time for the rest

• Lean FIRE: Retire early with a minimalist budget

A 2023 Fidelity study found that 23% of Gen Z investors already identify with FIRE principles—significantly more than Millennials (16%) or Gen X (7%).

5. Find your financial mentor

While traditional advisors might not make sense for young people with smaller portfolios, alternatives exist:

• Seeking mentorship from financially successful friends and family

• Financial experts on social media (make sure they’re legitimate!)

• Fee-only financial planners who charge by the hour

Reimagining Retirement for Our Generation

The truth is, Gen Z's "retirement" will likely look different from Sheila and Lew's. The three-stage life (education, work, retirement) is evolving into a multi-stage life with periods of work, learning, sabbaticals, and reinvention.

But the core principle remains: financial freedom creates options. And options—not a specific lifestyle or age—are what retirement is really about.

A T. Rowe Price survey captured this shift in thinking perfectly, with 73% of Gen Z defining retirement success as "freedom to pursue passion projects" rather than simply "not working."

The Most Important Thing I Learned from Sheila and Lew

Beyond the financial strategies, what struck me most was something Sheila said about their planning: "We always saved for someday, even when someday felt very far away."

In our instant-gratification culture, that patience feels revolutionary. They built their freedom one consistent decision at a time, over decades.

Yes, we face unique challenges—climate anxiety, political instability, housing costs, student loans. But we also have unprecedented access to information, investment vehicles, and global opportunities.

The path to our own version of Sheila and Lew's vibrant 80s doesn't require extraordinary wealth or luck. It just requires starting now, with whatever we have, and maintaining the patience to let time work its magic.

Because one day, against all current evidence, we'll be 84 and 85, too. And when that day comes, I also want to be sitting at a bar in Manhattan, cocktail in hand, telling some young person about my upcoming trip to Aruba.

Don't you?

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