The Great Wealth Transfer is already underway. By 2030, women are expected to receive nearly $34 trillion in assets, a historic shift that could reshape families, communities, and the financial system itself.
For many women, this transfer of wealth doesn’t arrive as a celebration, it arrives as a question: What do I do now?
It should be a moment of empowerment. Instead, many women hesitate, questioning whether they know enough to fully engage in investing and long‑term financial planning.
The issue isn’t ability, it’s confidence.
The data reflects that gap: Only 27% of women describe themselves as “very” financially literate, compared with 34% of men. At the other end of the spectrum, women are nearly twice as likely as men to say they are “not at all” financially literate (19% versus 11%), according to CivicScience.
So, what’s holding women back at a moment when so much financial power is shifting into their hands?
Research from McKinsey & Company offers a clue. Nearly half of female financial decision‑makers say they feel unprepared to reach their financial goals, even when they already work with a financial adviser.
In my work with women across different ages and income levels, a consistent theme emerges: The hesitation usually isn’t about math skills or discipline. It’s about not knowing where to begin and fearing the wrong move.
Fear of financial loss plays a role, as does uncertainty. More than a third of women believe they don’t have enough money to start investing, even though small, consistent steps can make a meaningful difference. When financial information feels complicated or inaccessible, hesitation can easily turn into avoidance.
Life circumstances add another layer of complexity. Many women are balancing multiple priorities at once, from retirement and career changes to caregiving and family needs. Financial decisions often feel most daunting during major transitions, such as a new job, divorce, or the loss of a spouse.
And those transitions are common. Women tend to live longer than men and are more likely to outlive their spouses, meaning many will become sole financial decision makers at some point.
When confidence drops, the consequences are real. Delayed decisions or avoidance can make it harder to achieve long‑term financial security, which often requires growth to keep pace with inflation and longer life expectancies.
Despite these barriers, momentum is building. Nearly a quarter of U.S. women age 18 and older either plan to begin investing within the next year or remain interested but uncertain, according to CivicScience. This interest creates a timely opening for advisers to build confidence.
Advisers who help close the confidence gap don’t start with products or performance charts. They start by listening, asking better questions, explaining tradeoffs in plain language, and recognizing women as engaged decision‑makers, not secondary participants.
As the Great Wealth Transfer accelerates, managing assets is only part of the job. Building confidence, clarity, and trust is the harder — and more meaningful — work.
The shift in wealth is already happening. The question is whether the financial industry will meet this moment and help create lasting security and confidence for the women at its center.
Tara Popernik, CFA®, CFP®, is EVP of Wealth Planning at LPL Financial, where she helps simplify complex financial topics — from estate planning and tax strategies to the evolving needs of today’s investors.
