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Do millennials view charitable giving differently?

One desire many people have is a desire to help the world be a better place. There are many different ways individuals go about trying to achieve these sorts of altruistic goals. One such way is giving money to charities that they feel are making a positive difference in the world.

Charitable giving is a very popular form of supporting charitable efforts here in the United States. In a recent NBC News survey of 2,650 individuals, 70 percent of respondents said they donated money to charity in the past year.

However, the survey also indicates that millennials may have different views on the value of charitable giving than older generations.

Among the things the respondents were asked about in the survey was whether they viewed donating money or volunteering as more meaningful. Among all respondents, the most common answer given was that both of these things are equally meaningful. This was also the prevailing answer among respondents who were seniors. However, the respondents who were in the millennial generation had a different most common answer to this question. Among respondents in this age group, the most prevalent answer was that volunteering was more important to them than charitable giving.

Why do you think this was the case? Do you think millennials' views on charitable giving are different from those of earlier generations? If so, what effects do you think this will have on charitable giving and the support of charities in the future?

Everyone has their own unique views on how best to make a positive impact in the world. This is not just limited to views on how best to make a difference during one's life, but also views on how one's estate could best make a difference when one passes away. There is a great diversity in the types of altruistic goals individuals could have when it comes to their estate plan. Estate planning attorneys can help individuals with setting up estate planning mechanisms, such as wills and trusts, in a way that best matches their particular goals, including altruistic goals they have regarding their estate plan, like goals involving supporting charities.

Source: Today, "Do you give time or money? NBC poll finds Millennials and boomers may disagree," Joan Raymond, Dec. 1, 2015

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