Tina Hurley, Head of Planning and Ultra-High-Net-Worth Solutions at Citizens Wealth, shares insights on the Great Wealth Transfer's impact on women. She emphasizes the importance of financial education as more wealth shifts to female decision-makers. The discussion also touches on market fluctuations, personalized investment strategies, and the growing confidence of women in managing wealth. Meanwhile, wealth reporter Ben Steverman dives into the implications of tax policies on tips, exploring potential consequences of exempting them from taxation.
The impending $124 trillion Great Wealth Transfer is expected to significantly increase the financial responsibilities faced by women, necessitating enhanced education and personalized financial advice.
Recent discussions emphasize the need for tailored investment strategies that align with individual client goals and risk tolerances, particularly during market volatility.
Deep dives
Market Corrections and Investment Strategies
Recent market corrections have sparked discussions about investment strategies, particularly among retail investors who contributed approximately $7.3 billion into equities in a single week. This influx comes despite cautionary sentiments from financial strategists regarding market volatility, indicating that many investors are looking for opportunities amid potential downturns. It is suggested that previous trends of market growth could make current corrections an attractive entry point for long-term investments. Investors focused on a longer timeline may view temporary dips as viable chances to enhance their portfolios.
Wealth Management for Diverse Client Goals
The approach to wealth management is increasingly tailored to individual client goals and sentiments, as seen in varying trends among clients. Some investors express a desire to increase their exposure to high-performing sectors, while others may opt for a more conservative, risk-off strategy based on their life circumstances. Financial advisors are encouraged to engage deeply with clients, ensuring that financial strategies align with personal objectives and risk tolerances. This personalized approach emphasizes the importance of long-term planning while also considering immediate market conditions.
The Great Wealth Transfer and Women's Financial Empowerment
The impending transfer of $124 trillion in wealth through 2048 presents a significant financial shift, especially with an estimated $34 trillion transitioning to women. This shift arises from demographic trends, such as women generally outliving men and often inheriting family assets. Financial advisors stress the need to empower women through education and personalized financial advice, ensuring they feel confident in managing their future financial responsibilities. Engaging with women in financial planning discussions not only supports their immediate needs but also establishes a foundation for future generations in wealth management.
Watch Carol and Tim LIVE every day on YouTube: http://bit.ly/3vTiACF. Tina Hurley, Head of Planning and Ultra-High-Net-Worth Solutions at Citizens Wealth, discusses the impact of the "Great Wealth Transfer" could have on women. Bloomberg News Wealth Reporter Ben Steverman shares the details of his Businessweek story Trump’s No Tax on Tips Pledge May Cause ‘Crazy Things’ to Happen. Hosts: Carol Massar and Matt Miller. Producer: Paul Brennan.