As the Great Wealth Transfer—the largest intergenerational shift in history—accelerates, women could be left behind due to a pervasive “confidence gap” in financial planning, according to financial experts. Over the next few decades, an estimated $124 trillion in assets will move from aging Baby Boomers to Millennials, Gen Z, and heirs worldwide. Yet research suggests that women are less likely than men to take active control of inherited wealth, potentially limiting their ability to grow and preserve it.
“The numbers show a stark reality: women often inherit just as much, if not more, than men, but they’re less confident in managing it,” said Lisa Bolton, certified financial planner and founder of Equity Wealth Advisors. “That confidence gap can have lifelong consequences.”
What Is the Great Wealth Transfer?
The Great Wealth Transfer refers to the massive movement of wealth from older generations to younger ones, expected to reshape global financial markets and social structures. Analysts say the $124 trillion transfer will primarily occur in:
- The United States, accounting for nearly half of the total wealth movement
- Europe and Asia, where aging populations are concentrated
- Emerging markets, as middle-class wealth grows
While the transfer promises unprecedented opportunity, experts warn that behavioral, cultural, and educational barriers could prevent equitable participation.
The Confidence Gap: A Barrier to Financial Equality
Research consistently shows that women are less likely than men to engage in proactive financial planning, invest aggressively, or negotiate financial decisions, even when controlling for income and education. Key findings include:
| Factor | Men | Women | Implication |
|---|---|---|---|
| Likelihood to consult a financial advisor | 68% | 54% | Women may miss opportunities for tailored planning |
| Self-reported investment confidence | 72% | 53% | Lower confidence can delay critical decisions |
| Risk tolerance in portfolios | Higher | Lower | Conservative allocation may underperform over time |
| Estate and inheritance planning | Higher participation | Lower participation | Women may inherit wealth but fail to maximize growth |
“Confidence is the ultimate wealth multiplier,” said Samuel Price, behavioral economist at Greenfield Capital. “Without it, women may inherit money but fail to grow it optimally.”
Cultural and Systemic Influences
Experts point to several underlying causes for the confidence gap:
- Historical Exclusion from Finance – For decades, women were excluded from financial decision-making, creating long-term knowledge gaps.
- Societal Expectations – Women are often expected to be cautious or defer to male relatives when managing family finances.
- Workforce Disparities – Gender wage gaps and career interruptions reduce exposure to investment opportunities and retirement planning.
- Financial Literacy Gaps – Surveys show women score lower on financial literacy metrics, despite outperforming men in budgeting and debt management.
Consequences of Falling Behind
Failing to engage actively in wealth planning could have profound consequences for women:
- Lower long-term investment returns due to conservative allocation or delayed decision-making
- Missed tax optimization opportunities, including trusts, IRAs, and capital gains strategies
- Reduced influence in family business succession
- Increased vulnerability to economic shocks, such as inflation or market downturns
“It’s not just about inheritance—it’s about agency,” said Dr. Marissa Chen, author of Women, Wealth, and Wisdom. “Control over financial decisions determines your lifetime security and legacy.”
Strategies for Closing the Gap
Financial experts recommend several approaches to empower women in the wealth transfer era:
- Early and Continuous Education – Courses, workshops, and mentorship programs can improve financial literacy and confidence.
- Professional Advisory Support – Working with fiduciary financial advisors who prioritize education and collaboration.
- Active Participation in Family Wealth Planning – Encouraging women to attend board meetings, estate planning sessions, and investment committees.
- Simulation and Practice – Tools that allow women to “practice” investing, such as portfolio simulations, can reduce perceived risk.
- Peer Networks – Joining women-focused finance communities increases exposure to strategies, confidence, and shared experiences.
“Confidence grows with experience and knowledge,” said Bolton. “We need to normalize women taking the lead in financial planning from day one.”
Industry and Policy Responses
Financial institutions are increasingly recognizing the gender wealth gap and developing targeted initiatives:
- Bank of America’s Women & Wealth program offers workshops, advisory services, and mentorship networks.
- Fidelity’s Women & Investing initiatives provide personalized investment guidance and resources.
- Regulatory support – Some governments are incentivizing financial literacy programs and inheritance planning resources specifically for women.
Case Studies: Women Taking Charge
Several high-profile examples demonstrate the power of active financial engagement:
- Ruth Carter, inheriting a family business, implemented a modern investment strategy that doubled the company’s net worth within five years.
- Priya Desai, a Millennial entrepreneur, combined inherited assets with her tech venture to build a diversified portfolio exceeding $5 million.
- Maria Gonzales, widow of a prominent philanthropist, leveraged financial advisory networks to maximize both charitable impact and personal wealth preservation.
These cases illustrate that with knowledge, confidence, and planning, women can not only preserve wealth but grow it exponentially.
The Road Ahead
As the Great Wealth Transfer unfolds, women face a critical moment: actively participate and shape the future of their financial security, or risk falling behind in a multi-trillion-dollar intergenerational shift.
Experts emphasize that the confidence gap is not fixed—with education, mentorship, and proactive planning, women can claim their share of wealth and influence.
“This is about more than money,” said Chen. “It’s about autonomy, equality, and legacy. Closing the confidence gap will ensure women don’t just inherit wealth—they inherit power.”
