In households with $500,000 or more in investable assets, 6% of their income was donated to charity in 2004 (Source: Journal of Financial Planning, April 2006).
Approximately 57 million households held stocks directly or through mutual funds in 2005, compared to 40 million in 1995 and 16 million in 1983 (Source: Investment Company Institute and Securities Industry Association, 2006).
A recent study found that baby boomers are accumulating wealth at the same pace as past generations. However, they are likely to need to accumulate more wealth because boomers must depend more on defined-contribution plans, today's lower interest rates will produce less retirement income, life expectancies are increasing, and health care costs are rising quickly (Source: Boston College's Center for Retirement Research, 2006).
Another survey found that among affluent baby boomers age 50 to 59 with an average net worth of $1.7 million, not including primary residences, 62% do not have a written financial plan for retirement, and 27% have never met with a financial advisor to discuss retirement (Source: Financial Advisor, April 2006).