Women and financeWritten by Cynthia Roepke | | email@example.com
During the next decade over $100 trillion will pass by inheritance to the next generation. Over 90% of that wealth will pass through the hands of women (their life expectancy is seven years longer than men.) What impact will this landslide of wealth transfer have on our next generation?
The right for women to vote was won over one hundred years ago. The empowerment of women at the turn of the last century gave momentum to the pursuit of gender equality in every aspect of society. Young women today are facing different battles than those of their grandmother’s. This redefinition has created new boundaries in the segmentation of our society.
Women in general see the world from a more value (we used to call this “feeling”) based perspective. Their decisions tend to be made from a collective point of view, versus the more traditional male version of logical or transactional decision making.
In 1884, Mary Garrett, daughter of the president and founder of B & O Railroad, agreed to completely fund the new medical school, Johns Hopkins University, on the condition that women would be admitted on the same basis as men. In 1643, Anne Radcliffe gave the first scholarship to Harvard because she believed that the opportunity for education should not be limited by social class.
While not strictly limited to female membership, Giving Circles have emerged as a popular means for women to collectively practice charitable living. Typically, groups gather informally around a common social dimension and do not affiliate themselves with any formal organization. Members of Giving Circles are provided an opportunity to learn, share and grow as philanthropists and community leaders.
Grass roots. . .unsung heroes. . . the collective call of women is to inspire and create a better world.
Cynthia Roepke earned the professional designation of CFP, awarded by the Certified Financial Planner Board of Standards. She is a wealth management adviser in Fifth Third’s Private Bank.
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