{"id":6100,"date":"2026-10-06T07:52:19","date_gmt":"2026-10-06T07:52:19","guid":{"rendered":"https:\/\/www.vaultinsider.top\/?p=6100"},"modified":"2026-10-06T07:52:19","modified_gmt":"2026-10-06T07:52:19","slug":"wealthy-baby-boomers-are-losing-faith-in-their-millennial-heirs-giving","status":"publish","type":"post","link":"https:\/\/www.vaultinsider.top\/?p=6100","title":{"rendered":"Wealthy baby boomers are losing faith in their millennial heirs&#8217; giving"},"content":{"rendered":"<p><img decoding=\"async\" src=\"https:\/\/fortune.com\/img-assets\/wp-content\/uploads\/2026\/10\/GettyImages-2267509412-e1791216367323.jpg?w=2048\" \/><\/p>\n<p>Wealthy baby boomers have spent decades building their fortunes\u2014and the foundations, donor-advised funds, and giving traditions that come with them. But as the $124 trillion Great Wealth Transfer gets underway, a growing share of the older generation isn\u2019t so sure their kids will carry on tradition the way they hope.<\/p>\n<div>\n<p class=\"wp-block-paragraph\">Fewer than half of wealthy Americans (47%) believe the next generation is prepared to take on family philanthropic causes, down from 55% in 2024, according to research from Bank of America released last week. The share of parents who believe their children share their commitment to giving back fell even more sharply to 65% from 76%. The bank surveyed more than 1,430 wealthy individuals in the U.S. aged 21 or older with at least $3 million in investable assets, excluding primary residence.<\/p>\n<p class=\"wp-block-paragraph\">The confidence gap in philanthropy mirrors a broader anxiety wealth advisors have noticed about whether heirs are ready for any of it.\u00a0<\/p>\n<p class=\"wp-block-paragraph\">\u201cThis is a very real concern I\u2019m hearing from ultra-affluent families right now,\u201d Tom Thiegs, managing director of leadership and legacy at Ascent Private Capital Management with U.S. Bank, told <em>Fortune<\/em> of parents\u2019 fears that wealth could dampen their children\u2019s drive. Trent Von Ahsen of Cedar Point Capital Partners also told <em>Fortune<\/em> his clients are leaning on mentorship and phased wealth transfers rather than lump-sum inheritances.<\/p>\n<p class=\"wp-block-paragraph\">But the irony is younger donors are, by several of the study\u2019s measures, more engaged donors than older generations. Gen Z and millennial donors support an average of 12 charitable causes, compared with eight among wealth donors overall. They\u2019re also roughly twice as likely to use a donor-advised fund, and 87% say honoring their family\u2019s philanthropic tradition is important. Meanwhile, 86% say it\u2019s equally important to establish their own charitable identity.<\/p>\n<p class=\"wp-block-paragraph\">\u201cYounger donors want to honor the charitable traditions that shaped them, but they also want to define their own impact,\u201d Jennifer Chandler, head of philanthropic solutions at Bank of America Private Bank, wrote in the study. \u201cThe opportunity for families is to engage the next generation early, creating a shared vision for giving while allowing room for new priorities and approaches.\u201d<\/p>\n<h2 class=\"wp-block-heading\">Gen Z and millennials give differently<\/h2>\n<p class=\"wp-block-paragraph\">Generations also diverge in how they give. Among baby boomer and Silent Generation donors, 92% give through cash contributions, while just 56% of Gen Z and millennial donors do. Instead, younger donors are more likely to give through charitable trusts, family foundations, fundraising, and mentorship.\u00a0<\/p>\n<p class=\"wp-block-paragraph\">Some of that comes down to inheritance. Many young donors come from families that already set up foundations, charitable trusts, or donor-advised funds (DAFs), Dianne Chipps Bailey, managing director of BofA\u2019s Philanthropic Solutions division, told the <em>Chronicle of Philanthropy<\/em>. Younger donors also gravitate to DAFs because they\u2019re digital-first, she said.<\/p>\n<p class=\"wp-block-paragraph\">The way they give also reflects how they want to be involved. Younger donors are nearly three times as likely as older ones to fundraise for the causes they support (30% versus 11%) and six times as likely to mentor (26% versus 4%).\u00a0<\/p>\n<p class=\"wp-block-paragraph\">But that hands-on approach is what nonprofits are struggling to adapt to. Community organizations spent decades cultivating wealthy baby boomer donors, and so that connection fades with each generation removed from the original donors.\u00a0<\/p>\n<p class=\"wp-block-paragraph\">\u201cA lot of nonprofits feel a bit paralyzed in how to tackle that problem,\u201d Steve Isom, chief operating and financial officer of donor-software firm Bloomerang, previously told <em>Fortune<\/em>. Younger donors, he said, are willing to trust organizations, but want to see exactly where their money goes first.<\/p>\n<p class=\"wp-block-paragraph\">Bloomerang\u2019s data also showed Gen Z and millennials are very active donors. In fact, their 2026 Giving Signals Report, conducted with The Harris Poll, pegged millennials as the most active donor generation right now.<\/p>\n<p class=\"wp-block-paragraph\">\u201cDonors are ready to trust nonprofits, but they want to see the receipts more,\u201d Isom said.\u00a0<\/p>\n<\/div>\n<p>#Wealthy #baby #boomers #losing #faith #millennial #heirs #giving<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Wealthy baby boomers have spen&hellip; <\/p>\n","protected":false},"author":1,"featured_media":6101,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[3772,2461,3773,3065,471,1683,1684,7100,536,476,7620,4237,9203,1962,473,3992],"class_list":["post-6100","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-finance-news","tag-baby","tag-baby-boomers","tag-boomers","tag-charitable-donations","tag-charitable-giving","tag-charity","tag-charity-donations","tag-faith","tag-gen-z","tag-giving","tag-heirs","tag-losing","tag-millenials","tag-millennial","tag-philanthropy","tag-wealthy"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.1 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Wealthy baby boomers are losing faith in their millennial heirs&#039; 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