America's Wealth Management Show

The Great Wealth Transfer’s Great Impact on Women

By Chris Duderstadt

November 10, 2025

The Great Wealth Transfer’s Great Impact on Women

Key Points – The Great Wealth Transfer’s Great Impact on Women

  • The Many Emotions of Wealth Transfer
  • Why Women Are Projected to Be the Biggest Beneficiaries of the Great Wealth Transfer
  • The Importance of Empowering Women to Take Control of Their Finances
  • 5-Minute Read | 42-Minute Watch

What Is the Great Wealth Transfer?

Did you know that $124 trillion is projected to transfer by 2048 according to a December 2024 Cerulli Associates report?1 Of that $124 trillion, about 70% of that is projected to transfer to women — some of it will be transferred more than once, first to surviving spouses, then to their children. As the Great Wealth Transfer continues, we want to help women feel empowered to make financial decisions and be prepared for wealth transfer.

Tune into America’s Wealth Management Show, as Jennifer Stone, CFP®, who is a managing director and executive advisor for Modern Wealth Management’s Boise, Idaho office, and Cris Marik, CFA, CFP®, who is an executive advisor in our Orland Park, Illinois office, offer their unique perspectives on the Great Wealth Transfer’s impact on women.

 

Why Women Living Longer on Average Than Men Matters

Planning for wealth transfer is something that Jennifer, Cris, and are other advisors regularly discuss with clients, but why is it so important for women specifically to be prepared for wealth transfer? Well, according to the Centers for Disease Control and Prevention, the life expectancy for women is more than five years longer than it is for men.2

Great Wealth Transfer Women

FIGURE 1 – Women Expected to Live Longer Than Men – Centers for Disease Control and Prevention/USA Facts

There have been many occasions when our team has met with a couple for the first time, and it’s been clear that there’s a CFO spouse and a non-CFO spouse. Oftentimes for husband-and-wife couples, the husband is the CFO spouse. We can’t stress enough how important it is for both spouses to be involved throughout the financial planning process. Why? If you’re married and your spouse passes away several years before you, will you feel confident to make important financial decisions for the rest of your life?

Even if you consider yourself to be more of a non-CFO spouse than a CFO spouse, it’s critical to at least have an interest in your finances. What are your financial goals and what income sources do you have to help fund your desired lifestyle? Working with a team of wealth management professionals can help you putting the pieces of your retirement puzzle together, but you need to provide all the pieces and your vision for completing the puzzle.

Wealth Transfer Can Be Very Emotional

It’s also important to understand that your goals and life circumstances are going to change as you’re working and in retirement, so taking a set-it-and-forget-it approach to financial planning is generally not appropriate. That’s why it’s pivotal to have review meetings with your financial planning team.

The death of a spouse obviously has a significant impact on the surviving spouse’s life circumstances and goals. Where will the surviving spouse be emotionally? Along with the grief that comes with losing a spouse, money can make people very emotional as well. Hence why it’s important to prepare for wealth transfer so the surviving spouse can focus on grieving rather than also worrying about horizontal wealth transfer.

An advisor can help create a safe space and help with prioritizing what you need now as you regain control. Following the loss of a spouse, give yourself time to grieve and make sure you’re working with an advisor that isn’t pushing you to do something that you’re not ready to do.

Wealth Transfer Considerations for Individuals

We’ve discussed some wealth transfer considerations for married couples, but what about for single individuals who have saved well and are anticipating a potential wealth transfer? Jennifer and Cris addressed this on America’s Wealth Management Show. They have different family situations that helped highlight how planning for wealth transfer will look different for everyone. Jennifer is married with adult children. Cris is single with no children but has a sister who she would leave money to.

If your family situation is closer to Cris’s than Jennifer’s, do you have some nieces and nephews who you might want to leave an inheritance to? Remember that your inheritance doesn’t necessarily need to go to a family member either. If you’re charitably inclined, there are charitable giving strategies that allow you to support your favorite charities while you’re still living and after you’re gone.

Are You a Part of the Sandwich Generation?

Whether you’re single or married, we also want to review how wealth transfer can impact the sandwich generation. If you’re wondering, ‘What in the world is the sandwich generation?’ let us explain. Members of the sandwich generation have parents (and potentially grandparents) that are still living, but also have children (and potentially grandchildren) of their own.

Members of the sandwich generation may find themselves having to care for/financially support their aging parents all while still supporting their own children. Either of those situations needs to be taken into consideration as members of the sandwich generation plan for retirement.

Hopefully, you don’t find yourself in a situation where your parents depend on you financially, but remember that the focus of this article is about planning for wealth transfer. What if your mother or father passes away and leaves a large inheritance to you? Have you thought about how that will impact your tax situation going forward? Do you understand the distribution rules for inherited IRAs and Roth IRAs and whether you’ll be subject to annual Required Minimum Distributions?

Make Sure Your Beneficiaries Are Up to Date

As we wrap up this on wealth transfer, we’d be remiss if we remind everyone to review beneficiaries on all their accounts. The beginning or end of each year can be a good time to update your beneficiaries, especially if you’ll be around family for the holidays. It’s important to be on the same page from an estate planning perspective so that there aren’t any surprises after you or your loved ones pass away.

Do You Have Questions About Planning for Wealth Transfer?

Whether you anticipate leaving an inheritance or expect to receive one, we hope this article has helped to highlight the importance of planning for wealth transfer, especially if you’re a woman who might be impacted by the Great Wealth Transfer. Everyone’s situation is different, so your friend or neighbor’s plans for wealth transfer will likely be vastly different from your own.

If you have questions about preparing for wealth transfer, start a conversation with our team so we can learn more about your situation and plan accordingly around your unique situation and goals.

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If you’ve been uncertain about how wealth transfer might impact your short-term or long-term goals and what your next steps should be, now is the time to take control of your financial future. That’s where our team can come in and help. At Modern Wealth, it’s our goal to help you enjoy today while building confidence for tomorrow.

Resources Mentioned in This Article 

Other Sources 

[1] https://www.cerulli.com/press-releases/cerulli-anticipates-124-trillion-in-wealth-will-transfer-through-2048

[2] https://usafacts.org/articles/do-women-live-longer-than-men-in-the-us/

Investment advisory services offered through Modern Wealth Management, Inc., a Registered Investment Adviser. 

The views expressed represent the opinion of Modern Wealth Management a Registered Investment Advisor. Information provided is for illustrative purposes only and does not constitute investment, tax, or legal advice. Modern Wealth Management does not accept any liability for the use of the information discussed. Consult with a qualified financial, legal, or tax professional prior to taking any action.