Fidelity Charitable has just released a new study on giving trends as it relates to gender and generation. One of the most notable findings is that 72% of Baby Boomer women are satisfied with their charitable giving, compared to just 55% of Millennial women.
“Boomer women, whose age and life experience make them more seasoned givers, report significantly more satisfaction with their giving than Millennials do—suggesting that giving gets better with age,” a statement from the report reads. “Meanwhile, Millennial women, who are still building wealth and discovering their philanthropic purpose, are more impulsive; 71 percent said they give in the moment, compared with 48 percent of Boomers.”
The study also found that Millennial women are more motivated to give from their heart versus their head. Official figures point to 75% of Millennial women giving from a place of empathy versus just 62% of Baby Boomer women. This led researchers to conclude that by and large, Baby Boomer women are more logical when it comes to giving.
But when it comes to differences across gender, the findings show that men are overall more likely to give from a place of logic versus a place of emotion. Only 53% of men said that they are motivated to give from their heart, versus 64% of women. And there’s a similar contrast when it comes to strategic giving.
40% of men said that they are motivated to give “in the moment” versus being more strategic. Compare that to 51% of women who prefer to give in the moment.
But when it comes to seeking advice, the study concluded that women are far more likely to seek counsel from experts while men are more likely to seek guidance from personal contacts. Official figures point to 61% of women who prefer receiving advice from experts compared to just 47% of men.
To read the full report, click here.