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Are Male and Female Millennials on the Same Page Financially?

Survey reveals how the financial habits and attitudes of male and female millennials differ.

As the saying goes, “men are from Mars, women are from Venus.” But when it comes to how each gender approaches their finances, the two groups might as well be from different universes.

What are some of the most remarkable differences between the two groups that can greatly affect their financial future? See what a new survey from PNC reveals.


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View the full PNC Investments Millennials & Investing Survey »


Millennials & Money: Key Gender Differences

When it comes to money, male and female millennials have different attitudes, preferences and habits.

  • 26 percent of female millennials agree that they are confident they are saving enough for the future.
  • 40 percent of male millennials agree that they are confident they are saving enough for the future.

Percentage of millennials who own:

Checking, savings, money market or CDs

  • 90 percent of female millennials
  • 78 percent of male millennials

Life insurance

  • 57 percent of female millennials
  • 51 percent of male millennials

Individual stocks or bonds

  • 29 percent of female millennials
  • 35 percent of male millennials

Mutual funds

  • 17 percent of female millennials
  • 29 percent of male millennials

Exchange-traded funds (ETFs)

  • 10 percent of female millennials
  • 17 percent of male millennials

Seven percent of female millennials embrace risk, compared to 14 percent of male millennials.

Sixty-two percent of female millennials accept risk (even though they may not love it), compared to 60 percent of male millennials.

Thirty percent of female millennials like to avoid risk, compared to 26 percent of male millennials.


Source: PNC Investments Millennials & Investing Survey


Rich Ramassini
PNC Investments’ Rich Ramassini says that because millennials have the benefit of time on their side, they should start investing their money early in a diversified portfolio designed to help achieve long-term goals.

Forty-six percent of female millennials contribute 6 or more percent of their income toward retirement, compared to 57 percent of male millennials, the survey found.

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