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Joanne Fritz

Looking for Donations From Baby Boomers? The News Is Good and Bad

By December 13, 2006

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Reuters reports that U.S. baby boomers (born roughly between World War II and the Vietnam War) are on track to give some $100 billion to charity this year. On average, boomers will donate $6,000 to their favorite causes. That is a 25 percent increase from 2005.

A survey commissioned by Fidelity Investments turned up these figures. Opinion Research Corporation polled 1, 015 people in September and October about what they plan to give to charity this year.

The generosity is fueled perhaps by a stable economy and a rising stock market. Fidelity anticipates that giving by boomers will continue to be generous through next year.

However, the survey found that boomers worry that they will not be able to give as generously during their retirement years as they do now. Other studies have shown that millions of Americans have not saved enough for retirement.

The lesson is that boomers are "booming" right now but charities might find them more frugal as they age and retire.

More about the Fidelity survey:



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