New Horizons for Women & Wealth

There is an extraordinary transformation underway in women’s financial lives.

By the end of this decade, women are poised to control $30 trillion in wealth, a tripling from today’s $10 trillion.¹ Much of this shift is driven by the fact that 70% of all inherited wealth is passing to women, but that’s only half the story.² Women are also generating wealth at a remarkable pace. Currently, half of working women earn as much or more than their partners — a number that has tripled in the past 50 years.³ What’s more: Women own 40% of all businesses in the U.S., compared to just 5% in the 1970s.⁴ Those businesses contribute nearly $3 trillion and 12 million jobs to the U.S. economy.⁵

And yet, just a generation ago, women’s financial lives looked very different: In the 1960s, many women couldn’t open a bank account without their husband’s permission, and until 1974, banks could charge women higher interest rates and routinely required a male co-signer, regardless of the woman’s income or creditworthiness. Even in the 1980s, a husband could unilaterally control jointly-owned property.

Yet, despite all of this progress, women are still far less likely than men to engage in long-term financial decision-making. Even though 90% of women say they confidently manage their family’s day-to-day finances,⁶ many still defer to their partners on major decisions such as investing, estate planning and long-term financial strategy. Studies show that married millennial women of wealth rely on their partners for these types of decisions even more than previous generations. The reasons may look different today (dual‑career households, increased complexity of wealth, or an unspoken division of labor) but the outcome is the same: Too many women face major events like widowhood, divorce, job loss or a medical crisis feeling unprepared. In fact, due to factors such as longer life expectancy, rising divorce rates among couples over 50, and an average age of widowhood of just 59, studies estimate that 80% of women will need to manage their finances alone at some point in their lives.⁷

Whether creating or inheriting wealth, it is clear women are on the cusp of an unprecedented shift in economic influence. But realizing the full promise of the moment requires awareness, preparation and action. What follows are actionable steps every woman can take today to make the most of the decades ahead.

1. Understand your wealth

True financial literacy goes beyond saving and investing; it’s about learning how to think holistically about your wealth. Work to understand the answers to both the foundational questions (What are my monthly spending needs? Am I saving enough to meet my goals? Is my tax plan optimized?) and the more advanced ones (What impact do I want my wealth to have? How will I plan for longevity? What risks do I need to manage? What do I want to pass on to the next generation?). Having a deep understanding of both the small details and the big picture will help you to make confident financial decisions through all of your life’s chapters. 

2. Engage the right experts

Building a solid foundation, seizing opportunities and navigating unexpected circumstances often requires the professional support of a trusted advisor. As you engage with advisors, remember that every woman deserves a team who values your voice, respects your lived experience and supports your goals with clarity and compassion. A strong advisory relationship should empower you to ask any question without hesitation because knowledge begins the moment you ask.  

3. Cultivate a community

Women learn best from each other, and connection is one of the most powerful tools in a woman’s financial journey. This is the foundation of Elevating Women: to create a place where women share openly, learn together and grow more confident in shaping their financial futures. By engaging with a community of peers, mentors and experts, you not only gain knowledge but also build the kind of support system that can sustain you through key life transitions. These communities offer a supportive, inspiring environment to exchange real stories and ask honest questions.

4. Embrace collaboration

Building a stronger future for women isn’t a women-only project. Spouses, partners, sons, mentors and colleagues all help accelerate progress, and their involvement strengthens the foundation of financial confidence and generational change. Collaboration can start with simple but powerful actions: have open conversations about money and goals at home; invite the men in your life to attend educational events or panels alongside you; share insights and resources with partners so financial decision-making becomes a shared experience; and encourage sons, brothers and male colleagues to champion women’s voices in both personal and professional spaces.

We are living in a historic moment of transformation — one that many generations before us could only imagine. The future belongs to the women who prepare for it, claim their financial voice and build the knowledge, confidence, and support networks to thrive in every chapter ahead.

This article was adapted from a conversation with National Director of Women & Wealth Steph Wagner and Head of Banking & Specialized Services Glenda Pedroso. Watch their full discussion for more insights.