Young Women: The Wealth Generators of Today

By CPA Canada | CPA Canada | July 30, 2018

A recent study sponsored by RBC Wealth Management has found that millennial women (born 1981-2000) are creeping up in asset ownership faster than women born earlier: with 22% of baby boomer women (born 1946-1964) having $5 million or more in assets, and millennials (men and women combined) surpassing this at 32%. 

Experts are saying this is due in part to women are entering the workforce at a younger age, and are more involved in their education and wealth accumulation at an earlier age.

There’s a potential ripple effect on women from varied socio-economic backgrounds, suggests Camilla Sutton, president and CEO of WCM. “This is an important group of women,” she says. “They are role models, they have the ability to educate and they have substantial wealth with which to have impact.”

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