Women To Inherit Bulk

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    Baby boomers stand to inherit $10 trillion in the next few years and women will get the bulk of it, says a Cornell University study, because they outlive men an average of seven years. “Women already control 60 percent of the nation’s personal wealth – they outnumber men and they are traditionally the shoppers,” says financial expert Scott T. Schultz, author of ‘Scott Schultz’s Guide to Closed-End Funds.’ With the first of the boomers hitting 65 this year, the U.S. will see an even greater number of retirement-aged women holding the country’s purse strings.  “Many will inherit money and property from their parents and/or their husbands, and many will live another 30 to 40 years,” Schultz says, citing a Cornell study. “They’ll need to invest their money to ensure they have enough to avoid that impoverished retirement they fear.”