Today women control a third of total US household financial assets. But over the next decade, large sums of money are expected to change hands. The biggest driver of this shift is demographics. It is currently estimated that 70 percent of US affluent-household investable assets are controlled by the baby boomer generation. Furthermore, two-thirds of baby-boomer assets are currently held by joint households (where a female is present but not actively involved in financial decisions). As men pass, many will cede control of these assets to their female spouses, who are typically younger and longer lived. Women outlive men by an average of five years in the United States. By 2030, American baby-boomer women are expected to control much of the $30 trillion in financial assets their generation possess (a wealth transfer approaching the magnitude of the annual GDP in the United States). After decades of sitting in the background, the financial responsibility, stewardship and control for women is poised to take center stage.
Purpose: Learn about wealth management for women
Facilitator: Aaron Pierce (Guest Presenter - Mutual Trust Advisory Group) |
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