Wealthy boomers doubt their heirs will keep giving as $124 trillion changes hands, BofA finds. The data shows a different reality
Younger donors give to more causes than their parents—but only 47% of the wealthy think they're ready.
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# Investing Summary Bank of America research reveals a significant generational wealth transfer of $124 trillion is underway, yet only 47% of wealthy baby boomers believe their heirs are prepared to manage philanthropic giving responsibly, despite data showing millennials and Gen X donors actually support more charitable causes than their parents. This confidence gap between generations presents potential headwinds for charitable organizations dependent on sustained giving, while creating opportunities for wealth management and advisory firms specializing in legacy planning and intergenerational wealth transfer strategies.
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