2023 Wealth Planning Outlook
Against the backdrop of prolonged macroeconomic challenges, investors’ expectations have been put to the test by issues not seen in decades. In our 2023 Outlook, we explore how individuals and families are continuing to harness the resilience recent years have demanded to approach the year ahead.
The democratization of investing has provided younger investors more access early in their careers, but many could be facing a downturn for the first time. Work across generations to share wisdom and put ideas into practice.
* Reflects the number of times the S&P 500 fell by more than 20% during the time these generations were of working age. Assumes Boomers started entering the workforce in 1962, Gen X in 1986, Millennials in 2003 and Gen Z in 2016.
In 2022, the proportion of women in senior management roles grew to 32%, the highest number ever recorded. Taking control of your finances in the current environment can be challenging – especially if you are managing wealth for the first time. Take steps to prepare yourself and your family.
Source: Women in Business 2022: A Window of Opportunity, Grant Thornton
While venture capital funding in 2022 has slowed relative to last year, it has already surpassed the previous five years. Position yourself and your business to benefit regardless of whether you ultimately sell your business or pass it to the next generation.
Source: CB Insights Q3 2022 State of Venture Report
Of the 61% of foundations that are providing more unrestricted support post-pandemic,
65% will continue
Source: Foundations Respond to Crisis: Lasting Change? | The Center for Effective Philanthropy
Philanthropic donors are increasingly looking at nontraditional ways to achieve their philanthropic goals and help charitable organizations become more sustainable. Understand your options and use this opportunity to spark valuable conversations with family.
Register to read the full report which distills these forward-looking trends into actionable wealth advice.