The Great Wealth Transfer: Don’t Get Caught in the Flood Without a Plan

What is your nonprofit’s plan to be part of the great wealth transfer? It’s beginning now! 

A few years back, I went with friends on a long camping trip to the Southwest. We broke up a long stretch of driving with an overnight stay in Santa Fe. As we set up our tents, we got some news. 

After 15 months of drought, Santa Fe was expecting some very welcome rain. We looked at our nylon tents, stakes pounded into dry, red dirt on a hillside. There wasn’t much to block any runoff from going straight into our tents! 

We got out whatever we could find that would help us dig (next time, we’d pack a shovel) and we started digging. We created two very amateur trenches around the tents. They weren’t pretty, but when the rain came down in sheets about an hour after we set up, and the water ran straight down the hill toward our campsites, the trenches were enough to direct the water where we wanted it to go. Our gear still got a little wet.  

If we had known earlier, we would’ve dug better trenches. 

There is a flood of money ahead. The Boomer generation is beginning to make the great wealth transfer: the largest one in history. But it won’t get to everyone evenly. Those who prepare for it will direct the money where they want it. Those who don’t prepare are going to be disappointed.  

It’s time to make a planned giving plan! You can help your donors consider where their wealth will end up, what their legacy will be when they are gone.  

We can help. Contact us today!