"America is anticipating the greatest personal finance shift in history: During the next 23 years, an inconceivable $124 trillion will be transferred from baby boomers and older generations to heirs, widows, and charities. The dramatic shift is called the Great Wealth Transfer, and women are set to get the majority (70%) of that inheritance, according to Bank of America."
"Karla Valas, head of private wealth management and executive services at Fidelity Investments, questioned a room of attendees during a session called "Legacy in Motion: Empowering Women Through the Great Wealth Transition" whether they thought that because they are a high earner, they automatically have financial freedom. Fidelity Investments is one of the world's largest asset managers and the largest privately held financial firm in the U.S."
America will experience a Great Wealth Transfer of about $124 trillion over the next 23 years, shifting wealth from baby boomers and older generations to heirs, widows, and charities. Women are projected to receive roughly 70% of that inheritance. Many women risk falling behind because of inadequate financial planning and a confidence gap about taking active roles in long-term investment decisions. A JPMorgan study found about 60% of men lead long‑term financial plans versus roughly 25% of women. True financial freedom requires both earning capacity and a clear, adaptable financial plan, with psychological barriers often rooted in upbringing.
Read at Fortune
Unable to calculate read time
Collection
[
|
...
]