Tabs navigation
Women and money - opportunities and challenges ahead as women control more wealth
The International Family Offices Journal
Vol. 6 - Iss. 2 pp. 34–39
Dec 2021
It is no secret that women are a growing force of influence across all facets of society, whether it be in business, public affairs, philanthropy or within our own families and communities. Our raw numbers as voters, consumers of goods and services, and workforce participants point to women's growing economic influence. Increasingly, women are also becoming the wealth holders, a trend fuelled by both an unprecedented wealth transfer driven by demographics as well as the rise in wealth creation by female entrepreneurs. In the United States alone, women already control a third of total US household financial assets, over $10 trillion. This amount is expected to increase to as much as $30 trillion when more wealth transitions to women over the next decade. It is believed that baby boomer households currently control the majority of wealth in the United States, and that in the majority of those couples, women are not currently playing leadership roles with regard to financial decisions. Since women have traditionally lived longer than men, they are likely to inherit the wealth when their husbands pass away. They will also inherit the responsibility to decide how to manage and use those financial resources.