I can rattle off a myriad of reasons why those over age 50 might choose to cut back their giving: concerns about future income streams, limited spare time as they care for aging parents, their children’s college tuition expenses, rising health care costs and insurance premiums, and on and on.
But, last week The Hartford Financial Services Group Inc. announced the results of a volunteerism and charitable gift survey of the 50+ population. The results showed that, excuses aside, this group is ramping up giving of both time and money.
In commemoration of The Hartford’ 25-year relationship with AARP, part of the survey focused on comparing AARP members with non-members.
Some of the findings:
- 53 percent of consumers age 50+ participate in volunteer work, compared to 45 percent for those age 49 and younger.
- Of those who volunteer, almost 14 percent of AARP members volunteer one day per week as compared to 7.5 percent of non-AARP members.
- 76 percent of those over 50 give monetary donations to causes they support. This compares to 83 percent of AARP members over age 50, and 60 percent of those under age 49.
- The causes most favored by the 50+ group include Alzheimer’s disease, social services, the environment and military support.
- Chris Murakami Noonan, MCF communications associate
