A great transfer of wealth is underway. According to the Boston College Center on Wealth and Philanthropy, Americans are inheriting approximately $36 trillion, starting back in 2007 and continuing through 2061. Women are likely to be the major benefactors of that wealth transfer from one generation to the next.
For people who are inheriting this money, or just looking to invest in the future, it is critical to have a plan in place to help protect, preserve and grow these funds.
Regions’ Wealth Management advisors have long supported women investors, providing guidance, insights and financial solutions to meet their investment priorities. In our experience, women bring unique characteristics to investing that all investors can leverage to help keep their own financial goals on track.
Here are four key insights:
PLAY TO YOUR STRENGTHS
Discipline is important. Prioritize making consistent contributions to a longterm investment plan. Ask a lot of questions before investing. Once you identify an investment goal, we generally advise you stick with it, rather than consistently pursuing whatever “next big thing” comes along. True, we encourage a portfolio review at least once a year with your advisor. But, broadly speaking, consistency in saving — and discipline in investing — are keys to long-term investment performance.
A BROADER PERSPECTIVE
As a female wealth management professional, I’ve found that women tend to look at wealth within the context of their family and the goals they have for their family. With a long-term, goal-oriented view of investing, a portfolio can be built on enduring strategies that can weather the ups and downs of short-term market contractions and corrections.
RISK-AWARE VS. RISK-AVERSE
Our experience suggests women take a longer view and use a more holistic approach to calculating risk. Whether it’s in business or investing, women often look at the full picture of their family situation, their personal goals, their career, etc., to consider how taking specific risks will impact those goals. The key is to find the right balance of risk and reward to meet those needs.
TAKING CONTROL
There’s a myth that you must know everything about investing before getting started. That’s not true. Rather, it’s important to seek the guidance of an experienced team of advisors who’ve seen a range of economic cycles, and then determine how you can put their experience to work for you. So, understand you are in control. Discuss your goals at length. Be willing to have detailed conversations — with your family, your partner or spouse and with your advisor. Think through short-term and long-term strategies. And know you’re in the driver’s seat, but there is always support and guidance along the way.
Whether you are part of the great transfer of wealth happening now, or you’re looking to take your first steps toward planning for the future, our team is ready to help guide you through the process as you build the legacy you envision.
To learn more, visit regions.com/embracelife, or stop by any Regions branch in the River Region.
Anne Ferrell Dalton is a Wealth Advisor with Regions Private Wealth Management. Contact: Anne Ferrell Dalton / 334.240.1345 / [email protected]
Trust and investment management services are offered through Regions Wealth Management, a business unit of Regions Bank. Investment advisory services are offered through Regions Investment Management, Inc. “RIM”. In some cases, RIM’s investment management services and/or strategies will be utilized by Regions Wealth Management for its trust and investment management clients. RIM is a Registered Investment Adviser and wholly owned subsidiary of Regions Bank, which in turn, is a wholly owned subsidiary of Regions Financial Corporation.
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