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Trends with Benefits #102: To the Widow Goes the Wealth

June 22, 2023

Listen Time 28:32 MIN

Learn how to educate and prepare family members for the wealth transfer to women.

You’ve probably heard about the wealth transfer to younger generations, but what about to surviving spouses? In the U.S., women tend to outlive men by five years on average.1 This means that, as their male spouses pass, women in America are estimated to control $30 trillion in inherited financial assets by 2030. Renee Springstead, Private Wealth Manager at Fross & Fross Wealth Management shares how she prepares both couples and recently widowed women for this transition. Offering this planning and support in advance can help financial advisors retain clients as 70% of widows switch financial advisors after the death of their spouse.2 We also discuss tips for family members, including tracking the cost basis of your investments, organizing the correct documents, and making sure important financial information is shared.


Show Notes:

03:01 The Wealth Transfer to Women

12:11 What Women Should Know About Finance

16:06 What to Expect: Changes in Income

19:58 Obstacles in Retirement

22:23 Opportunity in Roth IRAs

24:52 Long-Term Trend

25:54 Trend or Fad

Trend or Fad

Listen for Renee’s take on artificial intelligence (AI), crypto, active adult communities, aperol spritzes, pickleball, cold plunge pools, and boomer dating apps.

Follow Ed Lopez @thatEdLopez on Twitter.

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IMPORTANT DISCLOSURES

1 McKinsey & Company, “Women as the next wave of growth in US wealth management,” July 29, 2020.

2 Forbes, “Be Financially Prepared For The Death Of A Spouse—Before It Happens,” May 26, 2022.

Please note that VanEck may offer investments products that invest in the asset class(es) or industries included in this video.

The views and opinions expressed are those of the speaker and are current as of the video’s posting date, and are not necessarily those of VanEck or its employees. Video commentaries are general in nature and should not be construed as investment advice. References to specific securities and their issuers or sectors are for illustrative purposes only. This is not an offer to buy or sell, or a recommendation to buy or sell any of the securities/financial instruments mentioned herein. The information presented does not involve the rendering of personalized investment, financial, legal, or tax advice. Certain statements contained herein may constitute projections, forecasts and other forward looking statements, which do not reflect actual results, are valid as of the date of this communication and subject to change without notice. Information provided by third party sources are believed to be reliable and have not been independently verified for accuracy or completeness and cannot be guaranteed. VanEck does not guarantee the accuracy of third party data.

Investments in digital assets are highly speculative and involve a high degree of risk. These risks include, but are not limited to: the technology is new and many of its uses may be untested; intense competition; slow adoption rates and the potential for product obsolescence; volatility and limited liquidity, including but not limited to, inability to liquidate a position; loss or destruction of key(s) to access accounts or the blockchain; reliance on digital wallets; reliance on unregulated markets and exchanges; reliance on the internet; cybersecurity risks; and the lack of regulation and the potential for new laws and regulation that may be difficult to predict. Moreover, the extent to which digital assets utilize blockchain technology may vary, and it is possible that even widespread adoption of blockchain technology may not result in a material increase in the value of such companies or digital assets.

Digital asset prices are highly volatile, and the value of digital assets, and the companies that invest in them, can rise or fall dramatically and quickly. If their value goes down, there’s no guarantee that it will rise again. As a result, there is a significant risk of loss of your entire principal investment.

Digital assets are not generally backed or supported by any government or central bank and are not covered by FDIC or SIPC insurance. Accounts at digital asset custodians and exchanges are not protected by SPIC and are not FDIC insured. Furthermore, markets and exchanges for digital assets are not regulated with the same controls or customer protections available in traditional equity, option, futures, or foreign exchange investing.

Digital assets include, but are not limited to, cryptocurrencies, tokens, NFTs, assets stored or created using blockchain technology, and other Web3 products.

All investing is subject to risk, including the possible loss of the money you invest. As with any investment strategy, there is no guarantee that investment objectives will be met and investors may lose money. Diversification does not ensure a profit or protect against a loss in a declining market. Past performance is no guarantee of future performance.

No part of this material may be reproduced in any form, or referred to in any other publication, without express written permission of Van Eck Associates Corporation.

©️ Van Eck Securities Corporation, Distributor, a wholly owned subsidiary of Van Eck Associates Corporation.

Van Eck Associates Corporation
666 Third Avenue, New York, NY 10017

IMPORTANT DISCLOSURES

1 McKinsey & Company, “Women as the next wave of growth in US wealth management,” July 29, 2020.

2 Forbes, “Be Financially Prepared For The Death Of A Spouse—Before It Happens,” May 26, 2022.

Please note that VanEck may offer investments products that invest in the asset class(es) or industries included in this video.

The views and opinions expressed are those of the speaker and are current as of the video’s posting date, and are not necessarily those of VanEck or its employees. Video commentaries are general in nature and should not be construed as investment advice. References to specific securities and their issuers or sectors are for illustrative purposes only. This is not an offer to buy or sell, or a recommendation to buy or sell any of the securities/financial instruments mentioned herein. The information presented does not involve the rendering of personalized investment, financial, legal, or tax advice. Certain statements contained herein may constitute projections, forecasts and other forward looking statements, which do not reflect actual results, are valid as of the date of this communication and subject to change without notice. Information provided by third party sources are believed to be reliable and have not been independently verified for accuracy or completeness and cannot be guaranteed. VanEck does not guarantee the accuracy of third party data.

Investments in digital assets are highly speculative and involve a high degree of risk. These risks include, but are not limited to: the technology is new and many of its uses may be untested; intense competition; slow adoption rates and the potential for product obsolescence; volatility and limited liquidity, including but not limited to, inability to liquidate a position; loss or destruction of key(s) to access accounts or the blockchain; reliance on digital wallets; reliance on unregulated markets and exchanges; reliance on the internet; cybersecurity risks; and the lack of regulation and the potential for new laws and regulation that may be difficult to predict. Moreover, the extent to which digital assets utilize blockchain technology may vary, and it is possible that even widespread adoption of blockchain technology may not result in a material increase in the value of such companies or digital assets.

Digital asset prices are highly volatile, and the value of digital assets, and the companies that invest in them, can rise or fall dramatically and quickly. If their value goes down, there’s no guarantee that it will rise again. As a result, there is a significant risk of loss of your entire principal investment.

Digital assets are not generally backed or supported by any government or central bank and are not covered by FDIC or SIPC insurance. Accounts at digital asset custodians and exchanges are not protected by SPIC and are not FDIC insured. Furthermore, markets and exchanges for digital assets are not regulated with the same controls or customer protections available in traditional equity, option, futures, or foreign exchange investing.

Digital assets include, but are not limited to, cryptocurrencies, tokens, NFTs, assets stored or created using blockchain technology, and other Web3 products.

All investing is subject to risk, including the possible loss of the money you invest. As with any investment strategy, there is no guarantee that investment objectives will be met and investors may lose money. Diversification does not ensure a profit or protect against a loss in a declining market. Past performance is no guarantee of future performance.

No part of this material may be reproduced in any form, or referred to in any other publication, without express written permission of Van Eck Associates Corporation.

©️ Van Eck Securities Corporation, Distributor, a wholly owned subsidiary of Van Eck Associates Corporation.

Van Eck Associates Corporation
666 Third Avenue, New York, NY 10017