There are over 43 million people in the Americas over the age of 75, with over $50 trillion in combined transferrable wealth.
Up to $9 trillion is expected to be passed along to spouses and partners in the coming years as part of what's being called"the horizontal wealth transfer," according to a new report.
Yet because surviving spouses and partners typically get the initial inheritances, and because women typically outlive men, bequests in the coming years will largely go to women, according to the UBS Global Wealth Report."Life expectancy varies between men and women, and quite frequently couples have an age gap, therefore the inheriting spouse will typically own and hold onto this wealth for an average of four years before passing it on," the report said.
According to the report, the largest horizontal wealth transfers will be in the Americas. There are over 43 million people in that region over the age of 75, with over $50 trillion in combined transferrable wealth. The average age of the individuals passing down wealth is over 85, the report said. Those transfers, along with other broader forces in the economy, are adding to the so-called"feminization of wealth." With women's incomes and wealth rising, combined with inheritances for both older and younger inheritors, analysts expect women will make up a growing share of high net-worth investors and consumers.
The biggest impact will be on wealth management. Donovan said 45% of UBS's wealth clients are now women. McKinsey said that compared with five years ago, 30% more married women are making financial and investment decisions, and more women than ever are the family breadwinners,"spurring growth in their investible assets."
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