Gold and bank fixed deposits were once their investments of choice, but women these days are increasingly turning to equities, mutual funds, and other goal-based financial products to generate higher returns. For Ahmedabad resident Zindagi Dholakia, investing means a mix of three elements. She does her own research to understand what she’s getting into, seeks expert advice when unsure about something and sometimes goes by old-fashioned intuition—if something feels right, she buys it; or else, she avoids it. Dholakia, 51, is part an increasing tribe of women who are more conscious than ever about the need to invest for the future and secure their financial lives rather than depend on husband or father. Once anchored to gold and fixed deposits (FDs), they are blending the safety provided by those instruments with ambition, moving steadily into equities, mutual funds (MFs) and long-term wealth products. “My investment goals are mainly long-term wealth building. Although I don’t fall in the high-risk taker category, I don’t mind grabbing sensible and workable opportunities,” says Dholakia. They’re learning the importance of making their money work for them, rather than just working for money. -Nita Menezes, Founder and CEO, Financially Smart According to Computer Age Management Services, or CAMS, women’s participation in equity investments surged by 33% in 2023 alone, reaching Rs 1.3 lakh crore, with 76% of woman investors having exposure to equities. More strikingly, says the Association of Mutual Funds in India (AMFI), women’s assets under management (AUM) more than doubled from Rs 4.59 lakh crore in March 2019 to Rs 11.25 lakh crore in March 2024, with women accounting for 33% of mutual fund AUM, a sizeable shift from historical patterns. More women today are realising that managing money isn’t about control by others; it’s about taking control of their own lives. “They’re learning the importance of making their money work for them, rather than just working for money,” says Nita Menezes, founder and Chief Executive Officer (CEO) of Financially Smart, a personal finance advisory firm. Her Wealth Shift According to research done by DBS Bank and Crisil in 2024, women still allocate 51% of investable assets to bank fixed deposits (FDs) and savings accounts, 16% to gold, 15% to MFs, 10% to real estate, and just 7% to direct equities, showing diversification at play rather than a complete abandonment of traditional savings instruments. Women are, in fact, flipping the financial script. “This shift reflects growing financial awareness, access to digital platforms, and a stronger desire for financial independence,” says Anooshka Soham Bathwal, founder and CEO of Dhanvestor, a women-centric wealth manager. Essentially, more women investors are seeking inflation-beating returns and long-term growth instead of short-term security. Their choices are now being guided by informed analysis, not convention, signalling a more empowered and confident generation of wealth creators. “Women’s education and their own earning capacity have given them the confidence to make their own investment decisions,” says Renu Maheshwari, co-founder and Principal Advisor, Finscholarz Wealth Managers. And the modern woman is investing not just for her family’s future, but to realise her own dreams. “We see women planning for travel, solo trips, early retirement and entrepreneurship. We are seeing a shift through these goals from duty to self-prioritisation,” says Menezes. Women In Charge Financial literacy has become the foundation for women’s financial independence. Understanding key concepts such as compounding, asset allocation and inflation enables them to make informed decisions that align with personal milestones—from higher education and entrepreneurship to retirement planning. On the social front, traditional gender roles are evolving, with women now making independent investment decisions for their households. “This social shift, in part, reflects the influence of younger, more financially aware generations and a growing realisation that women need to secure their own financial future,” says Vidhi Tuteja, co-founder of ZFunds, a mutual funds platform. Accessibility and information have played a huge role here. “Fintech has facilitated both, and women are embracing this change. Women are also emulating and challenging men in various fields, and investments are no different,” says Shweta Jain, founder of wealth management firm Investography. A study by Axis Mutual Fund reveals that nearly 72% of women now make autonomous investment decisions, marking a pivotal shift from historical dependence on husbands and other male relatives or advisors. Bengaluru-based Bharati Sudhir, 51, believes that investment has taught her some great life lessons. “On the market front, I have realised all that shines is not gold. One should do own thorough due diligence of the product and market trends and seek advice from trained professionals before putting down money,” says Sudhir. Knowledge gives women awareness, but action gives them power. “The real transformation happens when women start taking action—even with small amounts and build confidence through experience,” says Menezes. Disciplined By Design Interestingly, women are more disciplined investors. Traditionally, women are inclined more towards saving money, often in the form of gold or bank deposits. When it comes to investments, women are more likely to be in for the long haul. According to a study by FinEdge, an investment management company, 71% of women investors stay invested for over five years. “Women’s patience in long-term investing and wealth creation is higher than men’s. Women understand long-term investing and hold investments for more than one year while men are seeking short-term, high-return strategies,” says Dilshad Billimoria, founder of wealth manager Dilzer Consultants. Anecdotal evidence shows that women use investments as a means to increase their savings rather than to get rich quick. “This makes them more stable and long-term investors,” says Maheswari. Women’s patience in long-term investing and wealth creation is higher than men’s. Women understand long-term investing and hold investments for more than one year while men are seeking short-term, high-return strategies. -Dilshad Billimoria,Founder, Dilzer Consultants Women tend to approach financial planning with consistency and discipline. They are less influenced by short-term market volatility and more committed to long-term financial plans. “Women investors value stability and sustained growth over speculation, making them naturally better at adhering to structured financial strategies that yield strong results over time,” says Bathwal. Women have always been natural savers. “But we are seeing and helping transition the change towards investing. They are shifting from just keeping money aside to channelling it purposefully into investments. Budgeting, cash flow management, and goal-based planning are becoming a second nature to them,” says Menezes. Keeping It Simple Investment is no rocket science. “Invest based on financial goals, choose investments based on risk and investment horizon, step up investments annually, and most importantly, remain invested. Don’t fall for trends—simple investments held for the long term will build wealth,” says Mrin Agarwal, Director of Finsafe India, a financial education firm. Jain also stresses keeping things simple: “Dream bigger. Keep doing the boring stuff. Don’t look for excitement in investments. Don’t compete with anyone; be your own cheerleader. Starting early is more important than starting bigger,” she says. Financial plan should mirror their ambitions—be it building a corpus for a car or a house or planning retirement. The principles of investing remain universal—goal clarity, risk management, and consistency. “Women should stay closely involved in reviewing their portfolios and working with advisors to ensure every investment aligns with their long-term objectives,” says Tuteja. In the end, the real shift is simple: women aren’t just saving anymore—they’re strategising, investing, and steering their own wealth journeys. The moment she took charge, it became a movement, and it’s only now gaining momentum.
