The economic center of gravity is shifting, and it’s happening faster than most people realize. Women across generations are converging at an unprecedented moment of financial power. The Great Wealth Transfer is placing trillions of dollars in female hands, while decades of professional and societal advances have positioned younger women to outpace their male counterparts in wealth creation. The result? A new female economy with the spending power, financial acumen and values-driven focus to transform how capital flows through our world.

This is a trend I’ve seen firsthand—not just in client conversations, but in my own home.

The myth-busting generation

My daughter was barely out of college when she made her first real estate investment. She bought her first home as many of her peers were debating career moves. RBC Wealth Management’s research shows me that she wasn’t an outlier—she was on the leading edge of a generational shift.

The data from our latest Women and Wealth survey of over 2,000 high-net-worth individuals shows that millennial women report higher total and investable assets than men. Younger women are driving this historic shift through diverse investment strategies, executive roles and entrepreneurship. More than 60 percent of millennial women respondents pointed to business ownership and innovation as key wealth drivers, compared to just 20 percent of Gen X women and 10 percent of baby boomer women.​​

Data from the National Association of Realtors shows that 20 percent of home buyers were single women in 2024, up from 11 percent in 1981. Single men made up eight percent of the home-buying market in 2024.​​​

For years, the financial industry operated on outdated assumptions that women were risk-averse and needed to be “educated” about investing. Our research shows that women are matching men in their willingness to take on risk.

Across generations, women are closing traditional gender wealth gaps and setting new standards in financial autonomy.

The convergence of wealth and opportunity

What makes this moment different from any other in history is the dual engine driving women’s financial power. On one side, the Great Wealth Transfer is channeling inherited wealth to the women who outlive their partners. Cerulli estimates that $124 trillion will be transferred by 2048, with $54 trillion passing horizontally to spouses, mostly widowed baby boomer (or older) women.​ On the other side, younger women are building their own wealth at record rates.

This convergence matters because it’s happening at scale. Women with unprecedented amounts of wealth are making decisions that ripple across every sector of the economy.

For example, Art Basel reports that women are spending more than their male counterparts on art—a sector in which collecting has historically been dominated by men.

Women are not passive investors. They’re negotiating business deals, acquiring real estate and art, funding startups and influencing corporate governance. They often seek out trusted financial advisors to get the input they need.

The rise of “inner wealth”

Another aspect of what makes the female economy different is that it’s not just about accumulation. It’s about impact.

Women are redefining what wealth means. Our survey found that 81 percent of women prioritize values related to “body, spirit and soul.” They say they are building wealth that reflects their values, supports their families and creates lasting impact through philanthropy and social responsibility.

Take lifetime giving as an example. While half of baby boomer women plan to transfer their wealth upon their passing, 61 percent of millennial women plan to give while they’re living. They want to see the impact of their generosity, mentor the next generation and create change in real time.

This marks a fundamental shift in how wealth moves through families and communities.

The road ahead

This evolving landscape signifies a pivotal shift in financial empowerment and equality for women, marking a new era in wealth management.

Women need advisors who listen, respect their priorities and help them execute on their values-driven vision. Our research shows that 90 percent of women with a financial advisor have a documented plan, and those partnerships are the key to unlocking confidence and long-term success.

That means starting the conversation about wealth transfer, values and planning before moments of crisis, and involving the whole family so all generations are informed and aligned.

Just as my daughter’s early real estate investment signaled what was ahead, today’s data sends a clear message: women represent an economic force, and the female economy isn’t coming—it’s already here.

This article originally appeared on Forbes.com .