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.
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.*
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