The great wealth transfer, estimated at $124 trillion, will predominantly benefit women, with close to $100 trillion allocated to them by 2048. Women are projected to inherit $47 trillion through generational wealth and $54 trillion as surviving spouses. A report indicates that American women will control two-thirds of private wealth by 2030, significantly impacting market trends. With a burgeoning demographic of wealthy women aged 50-70, demand for tailored services and products is set to rise, particularly in travel and luxury sectors.
"Women will soon control more money than ever before - and how they use this money is expected to have a profound impact," the study reads.
According to Bank of America research estimates, there are 1.4 billion women in the world between 50 and 70 years old, with the total expected to grow 47% to 2.1 billion by 2050.
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