Research from smart money app Plum has revealed an ambitious generation of women who anticipate becoming ISA millionaires one day.

The research, which explored attitudes to saving and investing among young people aged 18-44, showed one in three women believing they had the potential to become a millionaire via astute investments in an ISA.

When it comes to investing, the research showed that women on the whole are more keen on the most well-known and accessible forms of investing when compared with their male counterparts. The most popular investment methods considered by women were buying property (32%) and stocks and shares ISAs (29%).

Women were less likely to consider riskier and more unconventional methods, such as investing in single stocks (17% vs 34% of men), cryptocurrency (14% vs 37% of men) and gold (13% vs 25% of men), suggesting that they are more comfortable with tried-and-tested avenues to growing their money.

A factor in their investment choices is the current cost of living crisis, with almost three quarters (72%) of women agreeing the economic climate is making them less likely to take risks. In the face of this, they are choosing to take a cautious approach, which could equip them well to ride out any short-term volatility.

Better education and availability of investment advice online is having a positive impact on women’s interest in investing too, with close to two thirds (60%) of those surveyed finding financial information available online helpful.

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