The Great Wealth Transfer
Women are at the forefront of "The Great Wealth Transfer". The next 20-25 years we are expected to see a shift in the transfer of wealth - $84 Trillion with a "T", according to Forbes.1
The primary receiver? Women. Women have longer life expectancies and are more likely to be the beneficiaries of wealth from both parents and spouses. Women are earning, inheriting and controlling more wealth than ever before. Furthermore, Millennial and Gen X women are approaching investment decisions with more confidence and are more likely to be actively involved with making purposeful financial decisions.
Action Plan for Women Investors
- Education: Understand the basics of investing, tax implications and estate planning.
- Purpose: Consider how you can use inherited wealth to create legacy and create lasting change through philanthropy, entrepreneurship and supporting other women in business.
- Seek Professional Guidance: If you don't know where to begin with educating yourself or simply do not have the time or energy to dedicate to learning; professional guidance can help you get on the right track.
- Teach: It is never too early or too late to pass along your knowledge to the next generation. Involving children in financial discussions and lessons is a good way to set them up with confidence about making their own investment decisions when the time is right.
