6AM City In-house

What is the “Great Wealth Transfer?” 👀

Women, wealth, and the “Great Wealth Transfer”
Women sitting around a conference table in a glass room.
Gender lens investing takes many forms, including investing in companies, funds and other investment vehicles that consider gender in some way. | Photo provided by PNC Bank
Did you know that by 2030, more than two-thirds of wealth in the US will be held by women? It’s part of what industry experts refer to as the “Great Wealth Transfer” — a unique point in time when the Baby Boomer generation will have reached the traditional retirement age of 65 and drastic shifts will occur for those coming into + managing wealth.

Hint: Women (and millennials) are among those poised to benefit. 💵

PNC Private BankSM and its local wealth strategists are well aware of what this changing landscape means for women, and they’re on a mission to address the unique challenges women face when it comes to investing + managing wealth.

How women differ

While women’s financial goals aren’t that much different from men’s, their approaches to savings and investment strategies may differ — as may their engagement in financial decision-making + their perception of wealth.

For example, when PNC published a “Millennials and Investing” survey a few years ago, a key finding was that millennial women are more inclined to build wealth through saving than investing, while millennial men are more comfortable with risk and therefore more likely to be introduced to advanced investing instruments at an early age.

In recognition of this reality, PNC Private Bank applies a gender-specific lens to wealth planning and investing, which takes into consideration barriers that might prevent women from optimizing opportunities to build + preserve wealth.

Headshot of Beth-Toney, Greenville-based Senior Relationship Strategist for PNC Bank.

Senior Relationship Strategist Beth Toney, together with other PNC Private Bank advisors and strategists, is committed to empowering women financial decision-makers.

Photo provided by PNC Bank

Boosting empowerment

Another notable distinction among women and millennials when it comes to managing wealth is a heightened interest in responsible investing. Read: a goals-based investment approach that aligns an investor’s portfolio with his or her personal values.

This focus on responsible investing may also ultimately help boost women’s economic empowerment as investors deliberately incorporate gender factors into investment analysis and decisions to positively impact the lives of women + girls.

Are you a woman or millennial looking to navigate this changing wealth landscape? Learn how.*
PREPARE FOR THE GREAT WEALTH TRANSFER
This content was created in partnership with PNC Bank.*

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Friday, Nov. 6
  • Erika Lewis at the Cork & Keg | Friday, Nov. 4 | 8-10:30 p.m. | Cork & Keg Wine Bar, 86 Patton Ave., Asheville | $10 | This Americana musician runs the gamut from classic country to dreamy indie folk.
  • Quarteto Nuevo | Friday, Nov. 4 | 8 p.m. | Diana Wortham Theatre, 18 Biltmore Ave., Asheville | $38 | This quartet incorporates multitudes of musical styles — from western classical and eastern European folk to Latin and jazz.
Saturday, Nov. 5
  • Autumn Leaves and Nature-Made Mandalas | Saturday, Nov. 5 | 10 a.m.-12 p.m. | The North Carolina Arboretum, 100 Frederick Law Olmsted Way, Asheville | Create your own mandala using items gathered on a walk around the arboretum.
  • Jordan Scheffer & Band w/ Ugandan sensation Chinobay | Saturday, Nov. 5 | 8:30-11 p.m. | Isis Music Hall, 743 Haywood Rd., Asheville | $20-$25 | This local musician is the winner of the Blind American Idol Competition and combines her love of American roots music and Afro-Caribbean-Funk rhythms into a unique vocal and musical style.
Sunday, Nov. 6
  • WNC Fermenting Festival | Sunday, Nov. 6 | 11 a.m.-5 p.m. | Madison County Fair Grounds, 258 Carolina Ln., Marshall | $5 | Explore the bubbly and broad world of fermentation at this sixth annual fest, which includes presentations, workshops, and products from local and regional fermenters.
  • Sunday Live: Steve Lapointe | Sunday, Nov. 6 | 2-4 p.m. | Asheville Art Museum, 175 Biltmore Ave., Asheville | Free | Enjoy live piano while exploring relics at the Asheville Art Museum.
Monday, Nov. 7
  • Turntable Supper With Sunil Patel | Monday, Nov. 7 | 6-8 p.m. | Citizen Vinyl, 14 O’Henry Ave., Asheville | $60-$100 | Local chef and farmer Sunil Patel will serve a multi-course meal of Indian cuisine paired with a broad selection of records, including Indian folk, Paul Simon, and Japanese folk.
  • Frost Moon Fundraiser Gala | Monday, Nov. 7 | 5-10 p.m. | Asheville Masonic Temple, 80 Broadway St., Asheville | $50-$250 | Don an icy ensemble at this fundraiser gala for Firefly Gathering, which features an evening of music, art, and dance.
Tuesday, Nov. 8
  • Tenth Mountain Division | Tuesday, Nov. 8 | 8 p.m. | The Grey Eagle, 185 Clingman Ave., Asheville | $12 | This six-person band pushes the sound of the Colorado mountains into bold directions with their exploratory take on Americana.
Wednesday, Nov. 9
We have a monthly guide filled with events + activities you can plan for in advance. Click the button below to bookmark ideas for upcoming date nights, family outings, and time with friends.
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Fact or Fiction: Think you know what prevents hair loss? Think again. 👀
A woman puts hair loss treatment into her hair part.
AVLtoday readers can grab 15% off on Revela’s restorative serums with code 6AMCITY. | Photo provided by Revela
50% of women will experience hair loss in their lifetime. You might think you know what causes it — but do you really?

Test your knowledge. Are these Fact or Fiction?
THIS SERUM CAN HELP

Weather
  • 68º | Mostly sunny | 10% chance of rain
Community
  • Operation Green Light, an initiative that honors NC’s 600,00 veterans, will take place Monday, Nov. 7-Sunday, Nov. 13. As part of the awareness campaign, the Buncombe County Courthouse and other buildings will be illuminated with green lights throughout the week. Learn more.
Number
  • $6.8 million. That’s how much funding will support the installation and expansion of electric vehicle charging stations across NC. These upgrades will take place in Asheville, Marion, Morganton, Murphy, and 35+ other sites, with 75% of awarded funds going to projects in rural counties.
Arts

  • The One Act Play Festival debuts today, Nov. 4 and runs through Sunday, Nov. 13. The third annual festival will feature 20 original plays from all over the world that explore everything from polyamory to a show that goes horribly wrong. Get tickets. 🎭 (Mountain Xpress)
Biz
  • Jewell Watson, who has served as the executive editor of the Asheville Citizen-Times for the last two years, will leave the company today, Nov. 4. Veteran journalist Karen Chávez has been named the interim executive editor. (Asheville Citizen-Times)
  • In other media news, longtime Asheville Citizen-Times reporter John Boyle has announced he will leave the newspaper to join Asheville Watchdog, a nonprofit, investigative news organization. His first column will appear next week. Sign up to receive it. (Asheville Watchdog)
Answered
  • In Tuesday’s newsletter, we asked y’all about your interest in trail running, and it was a pretty split bag. 42% of you professed “Yes, I love it!” — while 41% of you answered “No, not for me.” 10% of you reported going sometimes, and a wee 3% said that you’re inspired to go (after we shared the story of Reid Woolsey).
Announced
  • Show your support for local journalism by joining the AVLtoday membership program. Membership has some awesome perks like exclusive birthday deals, discounts from our online shop, Six & Main + more. Plus, 100% of membership funds help support our local editors — that’s us, Brook + Laura. Learn more + sign up. 💻
Eat
  • Here’s a pizza advice: Treat your family to $3 movies and delicious eats at Asheville Pizza + Brewing. Bonus: Knock out some holiday shopping by taking advantage of their holiday gift card specials.*
Travel
  • Dreaming up a trip to the Bahamas? This Spanish Wells private cottage might just be your new happy place. It’s steps from the turquoise water, fully air conditioned, and is rated five stars. Book it as a January getaway or the best holiday gift ever for $299 avg/night. 🌊*
Featured Job
  • Montreat College is hiring for multiple positions, including Accountant, Alumni & Parent Relations Director, Director of Residence Life, and more. Interested in joining the team? Learn more about open positions and apply.*
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6AM City In-house

City

Asheville skater Rachel Bagels to compete at the World Skate Games
Asheville downhill skater Rachel Bagels
An action shot of Rachel Bagels at the 2019 World Skate Games. | Photo by Jeff Suchy
Local longboarder Rachel Bagels will represent our city as a member of the USA national downhill skateboarding team. Bagels, along with the five other women, will compete at the biennial World Skate Games, which runs through Sunday, Nov. 13 in Buenos Aires and San Juan, Argentina.

The crux of downhill skateboarding, Bagels explains, is “all about going fast.” The average race traverses steep and curvy roadways between one and three miles long and usually concludes in a few minutes.

In 2019, Bagels was a member of the inaugural USA downhill team, finishing in seventh place worldwide. This year, despite battling a shoulder injury, she’s hopeful about making her mark and reconnecting with skater friends from all over the world.

Interested in following her journey? The race is slated to stream on the World Skate website on Saturday, Nov. 12. (time TBD). You can also support Team USA via this GoFundMe.
SKATE THIS WAY FOR MORE
6AM City In-house
THE WRAP

Today’s issue was written by Laura.

Editor’s pick: If you have a few minutes, I highly recommend checking out Rachel Bagels’ Instagram page for an epic collection of skate videos.

Missed yesterday’s newsletter? Learn about the campaign to make wildlife crossings safer, here.
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Editorial: Laura Hackett, Brook Bolen, Sarah Leonhardt, Erin McPherson, Ashlea Hearn, Emily Shea | Send us a scoop, question, or feedback.

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