Friday, June 21, 2013
BIG’s Blog: The First HUGE Generational Wealth Shift
It seems every article you read about wealth transfer focuses on the Baby Boomers, since the leading edge of the Boomers are already 67 years old this year.
But, as I have pointed out numerous times in multiple posts, the big wealth transfer “going on today” is from the Boomers’ parents (Depression and WWII generational cohorts) to the Boomers.
A recent Chronicle of Philanthropy article focused just on the state of Minnesota, where nonprofit leaders have gauged the wealth transfer from the Baby Boomer parents at $48 billion . . . and that is just Minnesota!
Today, these older Depression and WWII cohorts represent upwards of 85% of your donor base. Clearly, you are failing to reach the Boomer and younger generations, and you need to address that growing problem. But for today – don’t forget to “ask” your current base of donors to remember your organization in their estate planning.
Every single communication you send out to your supporters who are the Depression and WWII generations needs to have information about legacy bequests.
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