As the saying goes, “men are from Mars, women are from Venus.” But when it comes to how each gender handles their finances, the two groups could very well be from different universes, according to the results of the recent PNC Investments Millennials & Investing Survey.
The survey reveals that millennial men and women have different attitudes and habits in key areas, including their levels of confidence, the financial products they own, and their risk tolerance. More men feel confident than women 
that they are saving enough for the future. And more women own basic financial accounts such as checking, savings, and money market funds, while more men own mutual funds and individual stocks and bonds. When it comes to risk tolerance, more men embrace or tolerate risk, while more women prefer to avoid it.
“It is crucial that all millennials take practical steps to ensure their future is not at risk, including saving for retirement, participating in the markets, and building an emergency fund,” says Rich Ramassini, CFP, senior vice president, Investments at PNC. “Given the findings of this survey, we encourage millennials to seek help from qualified financial advisors who can assist them in ensuring they are on track for a solid financial future.”
Who are the millennials?
They were born between the early 1980s to the mid-1990s or early 2000s, so many young adults today identify as millennials.
Are millennials in good financial shape?
Now representing the largest percentage of the workforce, millennials report that their parents did not provide much guidance on investments and many are not confident that they are saving enough for the future.
According to the PNC Investments Millennials & Investing survey, this demographic largely agrees that while they learned about saving money when young, they did not 
receive as much guidance from their parents on building wealth through investments. Financial experts say this knowledge gap could prove challenging for this segment of the population in the long run.
“The mindset towards money that many millennials adopted during childhood can derail their long-term financial goals,” says Rich Ramassini, CFP, senior vice president, PNC Investments. “When it comes to building wealth over the long term, investing is a critical component that should not be overlooked.”
Source: StatePoint