Research

Charitable living and the new retirement

Research insights from Fidelity Charitable^® about the importance of charitable giving among older Americans, and opportunities for financial advisors to educate and engage them on strategic ways to give.

By: Fidelity Investments

Updated: 12/6/2024

Key Takeaways

Strong commitment to giving: Over 75% of retirees and pre-retirees consider charitable giving significant or pretty important in their lives, with nearly 25% prioritizing it over other financial goals.
Low awareness of giving strategies: While many older donors value the tax deductions from charitable giving, there is low awareness of strategic giving methods. For example, less than 1/3 know about donating appreciated assets, and less than 1/4 understand how to use a donor-advised fund.
Opportunity for financial advisors: Despite the high level of charitable engagement, only 33% of older Americans have discussed charitable planning or giving with their financial advisors, indicating a significant opportunity for advisors to provide more strategic guidance.
Next steps for advisors: Advisors can spark charitable discussions with clients in a number of ways from sharing personal experiences with philanthropy, to involving all family members in discussions, to talking about volunteering with clients.

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Charitable living and the new retirement

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