Understanding the Wealth Shift

The great wealth transfer signifies an unprecedented shift of approximately $124 trillion from older generations, particularly Baby Boomers, to their heirs by the year 2048. This staggering figure exceeds the projected global GDP of $115 trillion for 2024, marking a historic financial transition.

Women as Primary Beneficiaries

A significant portion of this wealth is expected to land in the hands of women. According to a report from the Bank of America Institute, nearly $100 trillion of the total transfer is anticipated to benefit women, with $47 trillion allocated to younger female generations through inheritances and $54 trillion to surviving spouses, 95% of whom are estimated to be women.

Changing Financial Landscape

The study indicates a transformative shift in financial control. By 2030, projections from a prior McKinsey report suggest that women are expected to manage about two-thirds of all private wealth in the United States, representing the largest wealth transfer by gender in history.

Furthermore, as of now, there are approximately 1.4 billion women aged between 50 and 70 worldwide, a number set to surge by 47%, reaching 2.1 billion by 2050. This demographic shift informs their increased financial independence and wealth compared to previous generations.

Economic Impact of Wealth Transfer

Bank of America forecasts that this wealth transfer will lead to heightened demand for products and services tailored specifically to women. Their internal data indicates that women outspent men on both discretionary and essential items in the previous year.

• Women constitute 85% of solo travelers.
• Tour operators and cruise lines are increasingly catering to the growing demand from female travelers, as evidenced by Uniworld’s announcement of an all-female river cruise route for August 2025.

A Richer Future for Women

As posited by Bank of America researchers, “The great wealth transfer is making women richer.” This financial empowerment is anticipated to influence purchasing patterns and potentially reshape various industries.