The Great Wealth Transfer and What Women Will Do with It

Baby Boomer wealth totals about $30 trillion and that wealth, which is in the process of transferring to the next generation, will mostly be controlled by women. This wealth transfer will not only change the lives of those women, but society and the world at large.

This article discusses the gender difference in how money is controlled. Women generally share their finances, while men maintain control over their funds. The article supports the position that a society in which women have more power and more money translates into a more inclusive and equitable society. This theory is based on the premise that women learn at a young age to care about others and the communal good over individual success.

When it comes to investing, women prefer investing in companies that “do good.” They lean into impact investing significantly more than men. Shockingly, the gender pay gap costs women around $1 million over a 40-year career and women loose 4% of their pay for each child they have (while a father’s salary increases 6% per child). These are the factors that contribute to the current gender wealth gap, where women have less savings and investments.

Women who have money, have power. They have the power to leave unhealthy relationships and unsatisfactory jobs. The great wealth transfer to women will undoubtedly change the lives of the women receiving that wealth. Those women will be able to chart their own path. More than that, it is highly like that the women with power and money will share it for the betterment of others.

Read more here: https://www.forbes.com/sites/hollycorbett/2024/02/29/the-great-wealth-transfer-what-it-means-for-women-and-for-the-world/