The awesome wealthiness transportation refers to the $124 trillion expected to displacement from Baby Boomers and older generations to their heirs by 2048. That's much than the full world GDP of $115 trillion for 2024.
And 1 cardinal demographic stands to use the astir from the monolithic wealthiness transfer: women.
A caller report from the Bank of America Institute estimates that adjacent to $100 trillion of the $124 trillion transportation will spell to women, pinch $47 trillion shifting to women successful younger generations arsenic inherited wealthiness and $54 trillion going to surviving spouses, 95% of whom are expected to beryllium women.
Related: 'Nobody Ever Gave Me Anything': More Boomers Say They're Not Transferring Wealth to Family Until They're Dead
"Women will soon power much money than ever earlier — and really they usage this money is expected to person a profound impact," the study reads.
An older 2020 study from consulting patient McKinsey recovered that, by 2030, American women are projected to power astir two-thirds of each backstage wealthiness successful the U.S., representing the biggest wealthiness transportation by gender successful history.
According to Bank of America investigation estimates, location are 1.4 cardinal women successful the world betwixt 50 and 70 years old, pinch the full expected to turn 47% to 2.1 cardinal by 2050. Women successful that property group person "more wealth, independence, and opportunity" than women from erstwhile generations, the researchers note.
As a consequence of the awesome wealthiness transfer, Bank of America predicts accrued request and greater spending connected services, products, and experiences tailored toward women. Internal information collected by the slope showed that women spent much connected discretionary and necessity items than their antheral counterparts past year.
Women besides correspond 85% of solo travelers, pinch Bank of America investigation showing that circuit operators, cruise lines, and recreation advisors person reported increasing request from women. River cruise institution Uniworld announced an all-female way for August 2025, joining different cruise lines for illustration Aqua Expeditions and Celebrity Cruises successful offering women-only options.
"The awesome wealthiness transportation is making women richer," Bank of America researchers wrote.
For the afloat report, click here.
Related: 3 Ways to Prepare Yourself for the Great Wealth Transfer
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