March 2024
The rising wealth of women
Over the next decade, $30 trillion in U.S. wealth is expected to transfer to younger women. What are the financial impacts?
Key takeaways
- Over the next decade, $30 trillion in U.S. wealth is expected to be transferred to younger women, per BofA Global Research. This wealth is already starting to be passed down, and that will soon mean that women control more money than ever before.
- As women become more active in financial decision-making, understanding their goals and risk preferences increases its importance. Women tend to think longer term and prioritize capital protection when making financial decisions. Plus, women are more likely to make sustainable investments and give to female-focused philanthropic efforts among affluent households.
- However, gaps in gender parity remain and progress on women's financial health has not been equal across all regions, meaning the Great Wealth Transfer won't be equal either. This could further drive a gap between wage equality, entrepreneurship, rising political empowerment, and better access to leadership positions for women.
Read our full analysis for a more in-depth look at these trends.
