Millennials and Gen Z are pretty charitable
Millennials and Gen Z are often stereotyped as freeloading, basement-dwelling, lazy, spoiled children. Millennials and GenZ are two generations that have suffered several years of economic setbacks, all of which has caused delays in major life milestones. Both generations have to struggle more than their parents will have to in order to pay back their student loans, get married, have children, etc. Instead, they are the ones often stereotyped as children; two generations of supposed children who live at home and refuse to grow up. At the very least, Millennials Millennials (born roughly around 1982) and GenZ (born roughly around 1996) are more empathetic and charitable than previous generations. The study (conducted by RBC) made some pretty surprising findings, including the following:
– 53% of Canadians between the ages of 18 to 14, and 25% of Canadians between the ages of 35 to 54 are leaving behind something for charity in their Wills (for those in those age ranges who actually have a Last Will, that is). Also, yes, the study included people in the age range of 54 years old, despite the fact that oldest Millennials are approaching the age of 40. This was still in stark contrast to people aged 55 and older, who, as the study pointed out, were less charitable in their Wills than their younger counterparts.
– Canadians are still shrugging off the idea of getting a Will done. The study found that a whopping 52% of Canadians don’t have a Last Will and Testament. This is perhaps likely due to the fact that many younger Canadians feel that they don’t have enough assets to leave behind. The study did not provide a number as to how many Canadians (overall) participated in the study. It’s no secret that Millennials and GenZ are struggling with their financial outlook, but they do what they can to help their fellow human beings.
Millennials and GenZ are pretty charitable.