As baby boomers age, women are playing a pivotal role in reshaping the largest wealth transfer in history. With women living longer than men, many are inheriting wealth and becoming key decision-makers for their family finances.
Women are taking a proactive approach to managing wealth, often switching financial advisers and prioritizing long-term goals like healthcare, philanthropy, and legacy planning. This marks a stark shift from earlier generations, when many women were excluded from financial decisions. Today, they control $8 trillion in liquid assets, a figure projected to grow significantly as baby boomers transfer $82 trillion in wealth.
These transitions aren’t always seamless, as women often face family disputes over inheritance. Experts encourage women to engage in financial planning early to ease these challenges. Additionally, women are making a meaningful impact by directing wealth to charitable causes, prioritizing longevity, and redefining how money supports future generations.
This trend reflects women’s growing influence in finance, aligning with the mission of empowering diverse perspectives in the financial industry.
Source: Wall Street Journal
https://www.wsj.com/personal-finance/baby-boomer-wealth-transfer-women-5776d3a5
