As we move through a changing financial world, we see a clear split among women of different ages in how they think about financial security. Avestar Capital's recent findings highlight these differences between how confident Gen Z women feel and how worried Gen X women are about being ready for retirement.

A Confident Generation: Gen Z Women 

Generation Z born between 1997 and 2012, has a fresh take on women led financial freedom. Avestar Capital observes that 60% of Gen Z women think they'll be ready to retire. They feel sure about their money plans, often seeing student loans as challenges they can handle, not as huge problems. Many Gen Z women make plans to pay off these debts fast, so they can start building wealth in their careers.

Xerxes Soli Mullan Links to an external site., who is a Founder and Chairman of Avestar Capital Links to an external site., sums up this idea well. He says, "Gen Z knows their way around digital tech and understands finance matters from a much younger age. Tech and information give them power letting them take charge of their financial future with a level of confidence we've never seen before." This generation's proactive women first approach to financial education and investment, often fueled by social media and online resources, has resulted in a strong belief that they can achieve their financial goals, including early retirement.

The Weight of Anxiety: Gen X Women 

Unlike their younger peers, Gen X women born from the early 1960s to late 1970s, confront a unique situation. About 40% of Gen X women worry about their ability to afford retirement. These women feel growing pressure to build a big retirement fund. Experts suggest they need $1.5 million to $2 million to retire well—more than women of other generations.

Gen X women's worries stem from many sources. Economic slumps, job cuts, and rising living costs have left many shaky eating into their savings. Also, Gen X often finds itself caring for aging parents and children at the same time. People call this the "sandwich generation." This double duty often makes it hard for them to save enough for retirement.

Mullan points out that "The financial scene has changed a lot in the past few decades. The mix of financial problems and personal duties that Gen X women deal with can make them unsure about planning ahead. They need to know that it's always a good time to take another look at how they're saving for retirement."

Bridging the Gap: Learning from One Another

While the divide between these two generations reveals stark differences in mindset, there exists an opportunity for both to learn from one another. Gen Z women could benefit from the life experience and insights of Gen X women, particularly around long-term planning and risk management. Conversely, Gen X women can gain inspiration from the proactive and optimistic financial philosophies of their younger peers. 

It is crucial for women from all generations to engage in conversations about finances—to share strategies, experiences, and advice. Forums, mentorship programs, and online communities can create a collective knowledge base to support women in achieving their financial goals, regardless of their generational backgrounds.