Women Will Inherit Most of the $124T Great Wealth Transfer

The nice wealth switch refers back to the $124 trillion anticipated to shift from Child Boomers and older generations to their heirs by 2048. That is greater than the full international GDP of $115 trillion for 2024.

And one key demographic stands to profit probably the most from the huge wealth switch: ladies.

A brand new report from the Bank of America Institute estimates that near $100 trillion of the $124 trillion switch will go to ladies, with $47 trillion shifting to ladies in youthful generations as inherited wealth and $54 trillion going to surviving spouses, 95% of whom are anticipated to be ladies.

Associated: ‘Nobody Ever Gave Me Anything’: More Boomers Say They’re Not Transferring Wealth to Family Until They’re Dead

“Ladies will quickly management more cash than ever earlier than — and the way they use this cash is predicted to have a profound impression,” the research reads.

An older 2020 study from consulting agency McKinsey discovered that, by 2030, American ladies are projected to regulate about two-thirds of all non-public wealth within the U.S., representing the most important wealth switch by gender in historical past.

Based on Financial institution of America analysis estimates, there are 1.4 billion ladies on this planet between 50 and 70 years previous, with the full anticipated to develop 47% to 2.1 billion by 2050. Ladies in that age group have “extra wealth, independence, and alternative” than ladies from earlier generations, the researchers be aware.

Because of the nice wealth switch, Financial institution of America predicts elevated demand and larger spending on providers, merchandise, and experiences tailor-made towards ladies. Inner knowledge collected by the financial institution confirmed that girls spent extra on discretionary and necessity gadgets than their male counterparts final yr.

Ladies additionally characterize 85% of solo vacationers, with Financial institution of America analysis exhibiting that tour operators, cruise traces, and journey advisors have reported rising demand from ladies. River cruise firm Uniworld announced an all-female route for August 2025, becoming a member of different cruise traces like Aqua Expeditions and Celeb Cruises in providing women-only choices.

“The nice wealth switch is making ladies richer,” Financial institution of America researchers wrote.

For the complete report, click here.

Associated: 3 Ways to Prepare Yourself for the Great Wealth Transfer