Did you know ...
- Although most households reduce spending after retirement, their level of charitable giving tends to remain the same?
- Single women and married couples are more likely to give than single men, and to give more, before and after retirement?
- Single women and married couples are more likely than single men to volunteer after retirement?
- Single women tend to increase their volunteering after retirement?
So finds a new report by the Women’s Philanthropy Institute, How Men and Women Give Around Retirement. The study is the first to examine how retirement affects charitable giving. It also analyzes charitable giving in the period before retirement.
It’s a timely subject. As the report notes, around 10,000 Baby Boomers reach retirement age every day. By the time the last Boomers turn 65 in 2030, some 18 percent of the U.S. population will be that age or older. People are also living longer after retiring. Terming these developments “unprecedented,” the report states:
With better health and longer life expectancy than previous generations, today’s retirees are excellent candidates for annual, major, and planned gifts.”
The report also recommends that fundraisers “recognize that gender matters in philanthropy and adjust their strategies accordingly.”
To learn more, download your free copy of How Men and Women Give Around Retirement.Baby Boomer Suzanne Coffman is GuideStar’s editorial director.