Financial Resources and Charitable Contributions of Retired Households
center on wealth and philanthropy
Retired households, on average, own 58% more wealth but earn 35% less income than non-retired households. On average, they also contribute substantially more (69%) to charitable causes than do non-retired households. These are the initial results of a work in progress at the Center on Wealth and Philanthropy (CWP) at Boston College. The work is based on data from the 2001 Survey of Consumer Finances, sponsored by the Board of Governors of the Federal Reserve. A summary of the preliminary findings is posted on the CWP web page. The summary and its tables will be expanded into a working paper as the analysis proceeds.