When it comes to investing, women might have an edge!

While the world of investing and wealth management has been dominated by men, it seems the tide is turning.

Women are coming into wealth and that is presenting new issues for them, as they seek to invest and grow their financial bottom line.

Known as the “Great Wealth Transfer,” studies have shown that women could receive a portion of the $30 trillion in generational or spousal transfer over the next 10-20 years. This is the result of Baby Boomers passing on and transferring their wealth to the next generation – and that will largely be female.

Baby Boomers have grown their bottom lines over the last several decades, and no one knows exactly what will happen when the wealth changes hands.

So, what will this generation of women do with all this cash? While no one knows exactly, women are generally better savers than men and are interested in investing – and taking a long-term approach to growing their fortunes.

Women still face a wealth gap, with women earning about 82 cents for every dollar earned by a man and only about half of women have retirement savings.

Conversely, women live longer than men and can face challenges such as childrearing, taking care of elderly relatives and other constraints.

Financial advisors will have to be creative when advising women on their new-found wealth – taking into account their unique skills, challenges, beliefs and goals.

Most financial advisors are men and they are used to advising men, but women tend to have different goals and less risk tolerance – which will require some adjustments and new strategies.

Still, women will need the advice of financial professionals, so the investing field will have to adapt and learn new skills – and soon!

Do you still have questions about retirement planning options?

Follow us on LinkedIn and Facebook!

If you have other questions about retirement plan loans,email us or call 937.308.0758.