Philanthropy Important To Wealthy Young


    When it comes to philanthropy, the youngest high-net-worth Americans share habits and attitudes with the wealthiest individuals and families in the country, says a report by SEI. ‘Algorithms of Wealth: Community’ says philanthropic giving is generally universal among wealthy Americans. The average survey respondent allocated roughly 13 per cent of their wealth to causes each year. The youngest respondents, those under 40, however, gave away more than twice the average (27 per cent). In this instance, young high-net-worth respondents are even more aggressive in their giving than ultra-high-net-worth respondents. Those with more than $10 million in assets donated roughly 21 per cent of their wealth each year. In fact, the youngest and wealthiest respondents ranked philanthropy higher than their peers.