Baby Boomers to Give $8 Trillion to Charity in Next 2 Decades

The Baby Boomer cohort is entering retirement, but they’re not done leaving their marks. Boomers are set to give $8 trillion to charity, in the form of money and volunteer hours, over the next two decades, according to a Merrill Lynch study. Giving by retirees will account for half of all giving by 2025, said Merrill Lynch financial adviser Ralph Byer.

Boomers are famous for wanting to do things their own way and change the world, and charitable giving will be the next chapter in their impact. Experts don't know exactly how this generation will shape the philanthropic landscape, but they do know Baby Boomers are more values-driven and want to be more personally involved in the causes they care about.