Many reports on the retirement of baby boomers look at how their generation has prepared for life after work. A great deal is made about how boomers face more difficulties when retiring and need to save more. We also examine the changing perception of retirement; boomers tend to stay at work longer whether for financial reasons, or to stay engaged. One aspect of boomers’ retirement that is rarely looked at is how the generation gives back.
According to a recent study, boomers may be one of the most charitable generations ever. The findings show that in the United States alone, boomers will give about $8 trillion over the course of two decades through monetary donations and volunteering time. So why, when there seems to be so many concerns over how boomers will prepare for retirement, do they choose to commit so much to charity?
It seems that what boomers crave most in retirement is being able to stay active and stay engaged. While they might stay at work longer than previous generations, they will eventually retire, and seek out other ways to be involved. Charitable work is a the perfect option that allows boomers to take on more rewarding responsibilities while giving back.
Regardless of the reason for their charity, boomers have displayed a willingness to give back when money may not be as easy to come by, and a willingness to volunteer their time when finally escaping the work life. Clear signs of the generation’s big heart.