Comments on: Boomers: Love ‘Em Or Leave ‘Em?

By: Erik Anderson

Erik Anderson — Thu, 03 Jun 2010 20:21:57 +0000

In my experience with older donors, self preservation often wins and I’ve sensed that Boomers are very concerned about out-living their money and becoming a burden on their children. This doesn’t bode well. NFP’s who aren’t using Charitable Gift Annuities to appeal to aging Boomers and/or dabbling in e-philanthropy to appeal to Xers & Millennials are headed for bumpy roads ahead.

By: Cherita Smith

Cherita Smith — Thu, 03 Jun 2010 16:47:53 +0000

We’re entering tricky times for fundraising, that’s for sure. The field has been crafted almost exclusively around a generation that had a sense of duty and obligation, and that generation is almost gone. The Boomers replacing them — and I apologize if I offend any Boomers — aren’t going to step up and fill their shoes like everyone expects (or hopes?), even with the bio-chemical changes that come from aging.

Boomers, unlike the generation before them, grew up in an era that was much more self-interested with a heavy emphasis on consumerism. While aging will soften that, changes in brain chemistry won’t erase decades of hardwiring. So Boomers will continue to be focused on financial survival. They’ll probably become more giving with age, but it won’t be anything like the generation that preceded them. Not at all.

I think it will come down to Generation X. Xers grew up largely disaffected by consumer culture — and more, they saw how Boomers abandoned their youthful idealism of the 60s and 70s. I think in Generation X there is a strong sense of not wanting to end up like that. Plus, Gen Xers are statistically the most educated, which generally bodes well for giving. And when you look at it, they’re not all that young. According to that chart, the oldest Gen Xers are mid-40s — not exactly the traditional donor “sweet spot”, but hardly a teenager.

Ultimately, I think it means we’re going to have to really think about the way we fundraise. I’m not at all convinced that we can keep doing what we’ve been doing and expect it to work just because Boomers are entering that prime donor age.

By: Jim Toscano

Jim Toscano — Thu, 03 Jun 2010 14:31:20 +0000

Re: Boomers, et al.
Demographically, you need to look at the changes in race and ethnicity to tell the full story. By 2020, approximately 30% of the nation will be non-white and Hispanic. In some states these cohorts are already over 50%. What is that impact on fund-raising? jvt

By: Becky Becker

Becky Becker — Thu, 03 Jun 2010 12:25:53 +0000

Our office has had many recent discussions about Boomers. We keep circling the subject of your paragraph “Objectively, many Boomers have lost a considerable chunk of their wealth (in home values and equities) at the same time that they expect to live longer than ever. Subjectively, they are more mentally and emotionally inclined to be in financial “survival mode” than to be thinking about investing in saving the world. Not good news for fundraisers.”

As a Boomer, I can relate completely. An additional factor is that we are often becoming caregivers to our aging parents who are living longer, but with more health problems.