J.P. Morgan Wealth Management Investor Study: 93% of women investors aren’t relying on the Great Wealth Transfer to achieve their financial goals
- According to a new survey of 1,000 investors by J.P. Morgan Wealth Management, many women are already benefitting from the “Great Wealth Transfer,” but younger women aren’t waiting on their share to build wealth on their own. Women respondents are also independently working to achieve their financial goals, saying that having a financial plan in place gives them security, positively impacts their health and keeps them on track to meet their goals.
- A generational shift is happening when it comes to money talks with romantic partners. Even though 80% of all investors surveyed still steer away from personal finance discussions on a first date, 35% of Gen Z and millennial respondents would be comfortable broaching the subject, compared to 7% of baby boomers.
- While most respondents reported that dealing with market volatility is inevitable while investing and doesn’t necessarily influence their decision-making, high interest rates have impacted their financial decisions in 2025.
The 2025 J.P. Morgan Wealth Management Investor Study, which surveyed 1,000 investors with a minimum of $25,000 in investable assets, broadly aimed to explore investors’ perspectives on their finances. The findings spanned a range of topics, from how investors approach financial conversations with prospective partners – including dealbreakers and dealmakers – to how having a financial plan and how the current interest rate environment have impacted their overall mental and physical well-being and investment strategy, respectively.
Read more below on the key findings from the study.
Women are already benefitting from the Great Wealth Transfer
An estimated total of $105 trillion is expected to be passed down by baby boomers to younger generations (i.e., Gen X, millennials and Gen Z) by 2048, and this hand-off is set to be the largest transfer of wealth in history, comprised of cash, equities, real estate and other forms of wealth. Known as the “Great Wealth Transfer,” this hand-off is already underway for many older women – 63% of women 61 or older have already received an inheritance – according to J.P. Morgan Wealth Management’s Investor Study.
According to the survey results, the main thing women have done with the money so far is invest, though travel wasn’t far behind. Of those women who have already inherited wealth, 45% said they’ve used their inheritance to invest. Other answers women gave included paying off debt (43%), traveling (41%), supporting friends or family (33%) and donating to charity (28%). When asked what they would do with a future inheritance, 68% of women said they would travel.
At the same time, women are working to build wealth on their own, with 73% reporting that having money gives them security, while 64% of Gen Z and millennial women said it gives them freedom and choices. Of those women who are expecting to receive an inheritance, 93% said they aren’t depending on that money to reach their financial goals. Overall, three out of four women expressed confidence in their ability to achieve their financial goals.
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Money conversations matter in relationships
When it comes to dating, money is still a taboo topic – but that’s starting to change among younger investors.
Overall, only 20% of both male and female investors surveyed by J.P. Morgan Wealth Management said they would talk about money on a first date – a figure that drops to 7% for baby boomers. Among Gen Z and millennial respondents, however, 35% said they would talk about personal finances on a first date.
Similar trends were seen among female respondents, with three out of four responding Gen Z and millennial women saying that you should talk about money within the first nine dates. By comparison, the same proportion of baby boomer women believed that conversations about money should be saved until the 10th date or later.
Regardless of when the conversations occur, they could make or break relationships. Of all investors surveyed, 68% reported that they have financial dealbreakers when it comes to dating. But even more (86%) had dealmakers – traits or qualities that would make them more interested in dating someone. For example, 55% said they were more drawn to a prospective partner with good budgeting skills. Other top dealmakers included financial independence or self-sufficiency (61%), strong knowledge of personal finance (34%) and monetary investments (31%).
As for those who were already coupled up: 60% of both male and female investors said they have the same or similar relationship with money as their spouse or partner, with 62% reporting that they were comfortable relying on a partner for financial support.
Among women respondents, 75% said they either make decisions together with their partner or they take the lead themselves.
Financial wellness can significantly impact mental health
A financial plan isn’t just nice to have, it can have a major impact on financial outcomes and overall health, according to the Investor Study.
Overall, 62% of surveyed investors said their financial situation impacts their mental health, a figure that rises to 71% for Gen Z and millennial investors. In addition, 51% of investors said their finances impacted their physical well-being.
The good news, though, is that there are financial strategies that can help alleviate investors’ worries. The most popular strategy to reduce financial stress and support overall health and wellness, according to the survey, was having a financial plan, as reported by 50% of respondents. It is even more popular than building savings for potential health emergencies (44%) and increasing income (43%). This shows that investors believe that simply making money isn’t enough – they need to know how to manage that money and make it work for them, too.
Having a plan is key to financial success
There are other benefits to having a financial plan, according to respondents:
- 90% of those with a plan expressed confidence in their ability to meet financial goals, versus 49% of respondents without a plan.
- 86% believed they were on track to meet their retirement goals, versus 47% without a plan.
- 69% said they were on track to meet their 2025 financial resolutions, versus 25% without a plan.
- 80% said they were not stressed about their financial situation, versus 64% without a plan.
Investors approach market volatility with cautious confidence
2025 has been an interesting year for markets. Despite continued market volatility, investors surveyed by J.P. Morgan Wealth Management aren’t sweating the ups and downs, with three out of four respondents agreeing that volatility is a normal part of investing.
When the market declines, 64% said they would not take any action with their investments, compared to 28% who would take the opportunity to buy the dip.
Still, investors have concerns about the economy, with 75% concerned about inflation and three out of five respondents reporting that interest rates have influenced their financial decisions this year.
The bottom line
The J.P. Morgan Wealth Management 2025 Investor Study shows how much money influences every aspect of our lives, from our relationships to how we view romantic partners. With the Great Wealth Transfer already underway and set to benefit a wide range of investors, the survey highlights the importance of having a plan in place to achieve your financial goals.
To take the next step in building your financial plan, connect with a J.P. Morgan advisor today.
Frequently asked questions about the Great Wealth Transfer and financial planning
The Great Wealth Transfer refers to an estimated $105 trillion that baby boomers are anticipated to pass down to younger generations by 2048. This hand-off is expected to be the largest transfer of wealth in history, comprising cash, equities, real estate and other forms of wealth. As a result, the next couple of decades will see adult children receive inheritances that could meaningfully change their personal finances.
Cerulli Associates estimates that $35.8 trillion (42% of the total) will come from high-net-worth and ultra-high-net-worth households, which together make up only 1.5% of households. Because women, on average, outlive men, much of the total wealth will first transfer to widowed women in the baby boomer generation and older before passing to younger generations.
A financial plan is a roadmap for achieving your short-term and long-term financial goals. It outlines your current financial situation and the strategies you plan to follow, covering topics like budgeting, saving, investing, paying off debt and planning for retirement.
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