Happy International Women’s Day! This will be my first post in a blog series about women and money that will lead up to a special event that I’m planning this spring. Details to be announced but I’m very excited!
Most women used to gain their wealth through inheritance but that is shifting. Half of millennial women report earning their wealth through business and 72% are now the primary financial decision-maker for their household. Grey divorce, widowhood and longer life expectancy are all motivation for women to get involved.
By 2020 women will control 32% or $72 trillion (US) of all wealth which means that my industry, along with many others globally, will shift according to the needs and wants of women. A few things we know about women investors are that they are less aggressive with their investment strategy and prefer a long-term approach with diversification.
Over the next few posts I’ll do deeper dives on financial concerns of interest to women in particular. We’ll talk about retirement, tax planning and estate and legacy planning as well as look at some women breaking ground in the industry and beyond.
Until next time,
Look for me on Facebook – H.J. LeBar of the Harper Wealth Management Group of RBC Dominion Securities or LinkedIn – Heather J. LeBar, for more frequent updates.