The Great Wealth Shift for Women Is Here — Are You Ready?
By Sheri Perkins, SVP & Chief Wealth Management Officer
Citadel Wealth Management
When I began my career in the financial industry over 30 years ago, I was often the only woman in the room—and usually the only Black woman. It was the late 1980s and early 1990s, and while I loved the work, I knew I’d have to be exceptional to be heard, trusted, and taken seriously.
What drove me then—and still drives me today—is the example set by my mother. Born in 1924, she became a college graduate by 1946 and became the primary breadwinner in our home at a time when most women didn’t work outside the household. She showed me that financial independence isn’t optional; it’s essential.
Today, women are rewriting the rules of wealth and ownership. This isn’t someday—it’s now. And if you’re reading this, you’re not on the sidelines. You’re at the center of the change.
What Is the Great Wealth Shift?
By 2030, women in the U.S. are expected to control $30–$35 trillion in financial assets, a historic shift that will reshape families, communities, and the broader economy for generations to come.
That’s not just wealth. That’s power, influence, and responsibility.
Yet we’re stepping into that power while navigating systems not originally designed with us in mind. Financial services were historically built by men, for men. Even today, most advisors, and the clients they primarily serve, are men. But that is changing. Women aren’t just earning and inheriting wealth—we’re owning it.
What’s Driving This Shift?
There’s no single cause; several trends are converging:
- Inheritance and Longevity.
Women are inheriting wealth from parents and spouses, and outlive men by about five years on average. Many women step into full financial responsibility later in life. Start the transparency conversation now: Where are accounts held? Who are the advisors? Do you have access? - Caregiving and the Sandwich Generation.
Many of us are simultaneously raising children and caring for aging parents. Nearly 61% of family caregivers in the U.S. are women.
When my mother suffered a serious fall at age 89, I discovered she had accounts across six banks, significant cash in a safe deposit box, and no centralized plan. It took hiring an attorney, creating a will and power of attorney, and consolidating assets to support nearly $10,000 per month in care.
Takeaway: Don’t wait for a crisis to strike. Talk. Organize. Plan.
- Late-in-life divorce (“gray divorce”).
Divorce after 50 is increasingly common, leaving many women managing finances solo for the first time in decades. Between 1990 and 2019, the divorce rate for adults over 50 roughly doubled.
What you can do now: Build a clear financial roadmap before you need it—for stability and confidence.
- Women as Primary Breadwinners and Entrepreneurs
More women are becoming the primary earners at home and starting businesses at accelerating rates. The gender pay gap, while real, has narrowed: in 2023, women’s earnings were about 84% of men’s—up from ~65% in the late 1970s.
The choices we make, how we plan, protect, and purpose this wealth, will ripple outward for generations to come.
Confidence Is the Real Power
After years of working with women from all walks of life, here’s what I know: the gap isn’t capability—it’s confidence.
Women are exceptional planners. But many of us feel we need all the answers before we begin a financial plan. You need to start asking the right questions and keep going.
Starter questions to ask a financial advisor:
- Do I have a will and power of attorney in place?
- Are my beneficiary designations current?
- Am I saving enough for retirement?
- What’s my plan for healthcare and long-term care costs?
Confidence isn’t innate; it’s built. And it grows fast with a partner who listens, educates, and helps translate your goals into a plan that fits your life.
Find a Partner Who Walks With You
Financial planning doesn’t have to be overwhelming, and you don’t have to do it alone. At Citadel Wealth Management, my team and I focus on aligning your wealth with your values and vision.
We believe in personalized strategies that evolve with you, whether you’re building a career, navigating caregiving, preparing for retirement, or stepping into new financial responsibilities.
No jargon. No judgment. Just a partnership.
Own Your Wealth. Own Your Future.
The Great Wealth Shift isn’t on the horizon; it’s here. And you are at the center of it.
- Ask the tough questions
- Make the plan
- Break old biases
- Align your money with your purpose
- Lead with confidence, not only for yourself, but for every woman who comes after you.
When we own our wealth, we own our voice.
When we own our wealth, we own our future.
Ready to Take the Next Step?
Even a brief conversation with an advisor can give you clarity and confidence. Start a discussion with Citadel Wealth Management about your financial roadmap.
Sources
Centers for Disease Control and Prevention. “FastStats: Life Expectancy.” National Center for Health Statistics, 2023, https://www.cdc.gov/nchs/fastats/life-expectancy.htm
McKinsey & Company. Women as the Next Wave of Growth in US Wealth Management. McKinsey & Company, 2020, https://www.mckinsey.com/industries/financial-services/our-insights/women-as-the-next-wave-of-growth-in-us-wealth-management
AARP Public Policy Institute. Caregiving in the U.S. 2020. AARP, 2020, https://www.aarp.org/pri/topics/ltc/caregiving/
American Psychological Association. “Late-Life Divorce Is on the Rise.” American Psychological Association, May 2022, https://www.apa.org/news/press/releases/2022/05/gray-divorce
Pew Research Center. “Facts about Women and Work in the U.S.” Pew Research Center, 13 Sept. 2023, https://www.pewresearch.org/social-trends/2023/09/13/facts-about-women-and-work-in-the-u-s/
American Express. The 2019 State of Women-Owned Businesses Report. American Express, 2019, https://about.americanexpress.com/all-news/news-details/2019/The-2019-State-of-Women-Owned-Businesses-Report/default.aspx
U.S. Bureau of Labor Statistics. Women’s Earnings in 2023. U.S. Department of Labor, 2024, https://www.bls.gov/opub/reports/womens-earnings/2023/home.htm
This material is for educational purposes only and does not constitute financial, legal, or tax advice. Please consult your professional advisors for guidance specific to your situation.