Giving Compass' Take:

• IUPUI Women's Philanthropy Institute conducted a study to explore the gender differences in giving habits and volunteering around retirement age (65).

• Some of the takeaways found that single women are more likely to volunteer or increase their charitable giving after retirement, compared to single men. Are we making sure enough philanthropic opportunities with impact are available for women retirees?

• Download the full report here. Then read more about how women are leading a new era in family philanthropy.

The number of retirees is growing rapidly: 10,000 Baby Boomers will turn 65 every day through 2030, and those over 65 now represent 15 percent of the total population. People are living longer, and are more active during their retirement now than in previous decades. Despite advance planning, retirement represents a significant shift in life circumstances for many individuals. Households find that they have to adjust their spending in response to changes in earnings. How retirees participate in charitable giving, and how giving changes during this stage of life, is not well understood.

Men and women often have different experiences with the labor market; for example, women are less likely to enter and participate consistently in the workforce, and they tend to be paid less than men. These realities lead men and women to have different attitudes toward risk, savings, and spending, and to approach retirement differently. As women still live longer than men, they are likely to inherit wealth. They also exhibit different motivations for and patterns of charitable giving. Do these factors affect their philanthropic behavior at this juncture of their lives?

This study is the first known research to examine how retirement affects charitable giving. It looks at single men, single women, and married couples to analyze whether gender differences in giving or volunteering emerge among individuals at retirement. Additionally, it examines how giving changes during a range of years before and after retirement, with the understanding that preparing and undergoing such a life change is a process rather than one moment in time.

Key Findings (view infographic for more):

  • Both men and women maintain their charitable giving after retirement, especially compared to other types of spending.
  • Around retirement, single women and married couples are more likely to give and give more than single men. These gender differences are consistent before and after retirement.
  • Single women are the only group to increase their volunteering after retirement — a 4.7 percentage point increase.
  • Around retirement, giving by single women and married couples is more stable than giving by single men.
  • Around retirement, single women and married couples are more likely to volunteer, and their likelihood of volunteering is more stable, compared to single men.

Download the full report on how women and men give around retirement from IUPUI Women's Philanthropy Institute.