$30 Trillion in U.S. Wealth Will Transfer to Younger Women in the Next 10 Years

credit: GTP News

Women currently hold just 28% of the world's wealth, but that could soon change.

A new study from the Bank of America Institute finds that by 2030, women in the US will hold more than half of the $30 trillion in wealth inherited by Baby Boomer men, CNBC reports.

"Women tend to think longer term and prioritize capital protection when making financial decisions," says economist Taylor Bowley, who led the study.

"Plus, women (among affluent households) are more likely to make sustainable investments and give to female-focused philanthropic efforts."

Another study found that affluent women in the US are more likely than men to select women's and girls' issues as one of their top three most important causes, to the tune of 86% giving to charity and 10% investing in sustainable or impact investing.

Bowley notes that while there's been progress in gender parity, there's still a lot of work to be done.

For example, women in the US earn $0.83 for every $1 earned by men, which contributes to their having a 34% lower median retirement income than men, per the Bureau of Labor Statistics.

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