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Philanthropy: An Opportunity to Connect with the NexGen

Anchin Private Client CenterJuly 29, 2016
Philanthropy: An Opportunity to Connect with the NexGen

Growing in popularity among high-net-worth travelers are multigenerational vacations and trips with a philanthropic spin, also known as philantho-travel. Combining the two can be very powerful, both in terms of creating bonds, relaying values, and empowering the next generation.

Show the NexGen what matters to you. As baby boomers mature, many are focusing on creating a lasting legacy. Whether they are funding a medical institution, a wildlife conservation or an educational cause, including second and third generation family members on a related trip allows them to learn firsthand the power and meaning of your charity. Think creatively about how to incorporate the good works as part of a larger trip. For example, if the charity beneficiary is located in central Africa, build an adventure excursion into the program. If it is more urban, consider unique cultural events.

Let the NexGen show what matters to them. Some families are allocating relatively modest sums for grandkids to get involved in causes they select. Millennials have shown interest in animals, education, environmental issues and medical needs. Allowing them to assist in planning trips around their efforts and interests garners increased engagement. Regardless of their age, giving children responsibility and the authority to do good can build confidence and reinforce bonds across multiple generations.

Learn together about new causes. Sharing new experiences is one of the best ways to draw families closer together. Having open discussions about philanthropic goals that resonate with both generations and uniting on their behalf will strengthen the bond and contribute to leaving a charitable family legacy.  Discover new causes to support by identifying common interests between generations. Studies show that millennials are passionate about incorporating socially responsible habits into their lives. Regardless of the beneficiary, charitable acts present an incredible opportunity for family members who grew up during different times and under varying circumstances to see the world through each other’s eyes and gain a new perspective.

 

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