Financial literacy will be paramount to maximize this opportunity. There appears to be some impact and momentum among financial acumen in women, according to a new study by financial services firm Fidelity Investments.

Fidelity’s research reveals women are making “slow but steady progress” in modeling healthy investing behaviors, with 51% staying the course during market dips, outperforming men at 43%.

Women are also taking charge in the stock market, with 60% actively investing and adopting a less reactive stance toward recent market ups and downs, setting them apart from their male counterparts. Fidelity’s research also found that more women are seeking financial guidance, with a 19% increase since 2019, surpassing a 16% increase in men.

Women’s financial empowerment

In a conversation at Fortune’s Most Powerful Women Summit in Laguna Niguel, Calif., on Monday, Terri Burns, an investor and board member, and cochair of Fortune’s Brainstorm Tech conference, discussed the importance of women as wealth creators alongside Trish Costello, founder of Portfolia; Rachel Glaser, CFO of Etsy; Joanna Rotenberg, president of personal investing at Fidelity Investments; and Niven McCall-Mazza, editor in chief of The Skimm.

The panel discussed several essential actions required to enhance women’s financial empowerment, delving into various critical topics like the challenges that women face in achieving financial independence, overcoming obstacles related to venture capital, and underscoring the pivotal role played by financial literacy, the latter being a central theme to the conversation.

Panelists emphasized that instilling financial literacy in young girls and boys is fundamental for equipping future generations with the knowledge and skills to make informed financial decisions. By introducing children to financial concepts and practices at an early age, society can prepare them to navigate the complexities of personal finance confidently.

While “there’s a long way to go and in terms of our education system,” McCall-Mazza said, companies can also step up when it comes to training junior employees, including how important it is to contribute to your 401(k), how to negotiate your investments, and what to do with your money.

“I think that’s something that we all have the power to do in our companies and really make sure that our junior employees are set up for success,” McCall-Mazza said.

Women face challenges building wealth

The conversation also highlighted some of the challenges women face in building wealth, especially in the early years after having children, stressing the need for policies that support working mothers, including pay transparency, paid family leave, and childcare support, arguing that these policies are crucial for closing the gender pay gap and enabling women to maintain their careers while managing family responsibilities.

“I think the two things that are really important here and have been brought up is paid family leave and childcare. And it is known as contributing factors to why women are not able to build wealth at the same rate as men,” McCall-Mazza said. “It’s crazy to me that we have not done more.”

Furthermore, the panelists addressed the importance of addressing financial challenges at different life stages, such as retirement planning and health care costs in later life, advocating for government policies that provide a safety net for individuals, especially in smaller companies that may struggle to offer extensive benefits.

“We have unprecedented wealth, historic wealth that’s coming into our hands,” Costello said. “And so our ability to put that money to work is really going to make a huge difference.”