Generous GenX millionaires
13/09/2008
In the US, Generation X (aged 28-42) millionaires give nearly twice as much on average to charitable causes as older generations, according to Chicago wealth and investment manager Northern Trust’s third annual Wealth in America survey of high net worth individuals and families.
Gen X millionaire households gave nearly $20,000 in 2007; Baby Boomers (ages 43 to 61) and Silent Generation millionaires (ages 62 to 77) each gave roughly $10,000.
Looking ahead to 2008, Gen X millionaires plan to increase their giving modestly, unlike older households, who expect their 2008 giving to remain at about the same levels as 2006 and 2007.
Gen X households are also more generous in their intended charitable bequests, planning to give 22 per cent of their estate to charity, compared to 16 per cent for Boomers and 14 per cent for Silent Generation millionaires.
