Good causes around the country are watching boomer women nervously, hoping that they will fulfill expectations for being the most charitable demographic in history. They are certainly the largest cohort, with the most disposable income. Women traditionally have the softest spot in their hearts for those in need—and given that many are in line for triple inheritances (parents and out living their spouse), organizations are licking their chops.
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I know many of these women, including a number who open up their pocket books and empty them out on their favorite causes regularly. But with talk of recession in the air—and retirement/money issues looming on these womens’ personal horizons—I believe I have glimpsed the future of boomer giving. Some will love it. Some will be anxious. In any case, the kind of giving trends I’m about to lay out is quintessentially boomer—in sinc with the boomer ethos—which is why my crystal ball is sending out sparks.
1. Women would love to give big out of their own pockets, but for the reasons discussed above, they are nervous that their personal funds may not last their entire lifespan. They know that money is what’s needed, but are being very careful about how their personal funds are being spent.
2. In place of financial giving, many are looking to volunteer. But the ready-made options often do not utilize their full set of skills/talents, and trust me, she does not want to be delegated to stuffing flyers into envelopes when she has been a senior-level manager.
3. Just as many women left corporate life to become the fastest-growing segment of entrepreneurs, so are many women starting their own organizations/projects/initiatives to raise money/do good.
4. Many of these women continue to think big monetarily—but collaboratively not individually. This is promising for the poor and needy around the globe, but not necessarily the traditional charitable organizations—unless they learn how to harness the independent boomer ethos and prove that they are up to boomer’s snuff.
In my next blog, I will tell you about an initiative that illustrates these points.
Carol Orsborn
