Craig Wear, CFP, compares how older generations who lived through the Depression hoarded money while baby boomers give generously to kids and grandkids. Boomers fund houses, education, and vacations, and they value the relationships that come from giving.
That generation, they grew up through the Depression, and so they liked, they really had to hold on to their money. And you probably are like, I am. Your parents were those people. Right. They grew up through those time frames, and so it was really important. Or grandparents, one of the two. Well, the baby boomer generation has, interestingly enough, had a lot different way of handling that. We see many of our clients like to give, make large gifts to their kids, help them with a house, help them with the grandkids education, take them on big trips. So it's more of a mindset of enjoying the act of giving and watching what it does for the family or the people you care about.
