Intelligence

How Women Can Manage an Inheritance

According to a new study by RBC Wealth Management, women are set to inherit $3.2 trillion in wealth but many of them may not be ready for it. I am seeking insight from academic sources, authors and/or researchers on what challenges women face in managing an inheritance and how they can overcome them. 1. What psychological barriers may prevent women from managing an inheritance effectively? Fear, a sense of obligation to manage the money according to the wishes of someone else, or something else? 2. Women are increasingly in control of family finances but they seem to lack confidence where an inheritance is concerned. What accounts for that and how can they boost their confidence levels? 3. How important is it for women to have the right guidance in managing an inheritance, meaning a financial advisor they can trust? 4. What about education? What barriers may prevent women from getting knowledgeable about an inheritance and how can they break through them? Any additional insight beyond the scope of these questions is also welcome. Requirements: City National Bank requires all sources to sign a waiver to have commentary included.