Sharon Olson is the Founder & President of Olson Wealth Group, Inspired Life Family Office®, a multi-family office & wealth management firm.
Women have long been the architects of family wealth—not just by managing the household, but by nurturing relationships, shaping values and planning for the future. It’s no surprise that women, who are more likely to inherit wealth, are often excellent stewards of multigenerational prosperity.
Women today are shaping one of the largest wealth transfers in history. According to recent reports, American women over 60 currently control approximately $8 trillion in assets, and nearly $40 trillion is expected to transfer to widows in the coming decades. This unprecedented shift represents both an opportunity and a responsibility—to not only preserve wealth but to shape the future for generations to come.
When Claire, a good friend, recently retired after four decades of hard work, she found herself at a crossroads. She had spent years building a successful career, raising her children and managing the family’s day-to-day finances, but now, for the first time in a long time, she wasn’t sure what was next. She had the means to enjoy her retirement, but something felt missing—a sense of purpose beyond just leisure.
Determined to take action, Claire reached out to catch up over a morning coffee and talk about the future. She soon found herself not just discussing her investments but exploring something much deeper: What did she want her wealth to mean for her family? How could she use it to bring them together, ensure their security and leave a meaningful legacy?
Discovering The Power Of Legacy Planning
As her friend, I encouraged Claire to gather her family, her children, their spouses and even her teenage grandchildren for a conversation about wealth, values and the future. What started as a simple discussion turned into a transformative experience.
Through these conversations, Claire realized that money is more than a means to an end. It is a bridge connecting past, present and future. With this newfound understanding, she took a few important steps:
She built a multigenerational financial plan. She structured a wealth plan that balanced financial security, charitable giving and investment in her family’s future.
She formalized shared values. Together, the family defined guiding principles for how their wealth should be managed and what it should achieve, whether that was funding education, supporting charitable causes or ensuring financial stability for future generations.
She created a physical space for their legacy to grow. Claire purchased a vacation home in South Carolina, a place where her family could gather, reconnect and continue the tradition of storytelling and shared values.
Steps To Take Control Of Your Financial Future
If Claire’s story resonates with you, here are steps you can take to begin shaping your own financial legacy:
Engage with a trusted financial advisor. Look for someone who understands the complexities of multigenerational wealth and values-based investing.
Define your wealth’s purpose. What do you want your money to achieve for your family and community? Consider philanthropy, education and legacy planning.
Involve your family. Encourage open conversations about money, values and long-term goals. The more engaged your family is, the stronger your legacy will be.
Plan for succession. Whether you own a business or have significant investments, ensure there is a clear plan for passing down wealth efficiently and with minimal tax burden.
Think beyond numbers. True wealth is about more than finances—it’s about relationships, shared experiences and the impact you leave behind.
Your Legacy Starts Today
The time to take control of your financial destiny is now. By being intentional with your wealth, engaging with your loved ones and making strategic financial decisions, you can build a legacy that lasts for generations—one that is about more than just money but about love, connection and purpose.
Securities and Advisory Services offered through LPL Financial, a Registered Investment Advisor. Member FINRA/SIPC. The information provided here is not investment, tax or financial advice. You should consult with a licensed professional for advice concerning your specific situation.
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