- “According to Paul Schervish of Boston College, at least forty-one trillion dollars will pass from one generation to the next by the year 2044.” Beating the Midas Curse, by Perry L. Cochell and Rodney C. Zeeb, Page 35
- “In 2005, the Allianz Life Insurance Company surveyed baby boomers and their parents on a wide range of family and finance-related issues. ‘Many people wrongly assume that the most important issue among families is money and wealth transfer- it’s not,’ said Ken Dychtwald, the survey designer. ‘Non-financial items that parents leave behind- like ethics, morals, faith, and religion- are ten times more important to both boomers and their parents than the financial aspects of inheritance. In fact, seventy-seven percent of those surveyed (age forty plus) said the most important inheritance they could receive or pass on would be values and lessons about life.” Beating the Midas Curse, by Perry L. Cochell and Rodney C. Zeeb, Page 76-77
- “Earlier we cited a statistic from the Boston College of Social Welfare, which estimated that over the next four decades some forty-one trillion dollars will be transferred from one generation to the next. Paul Schervish, one of the authors of the study, estimates that as much as six trillion dollars of that transfer might be devoted to philanthropic purposes. Schervish also says there has been a fundamental shift in the motivation of forgiving. ‘The rich used to give money only when they were scolded into it,’ he says. ‘Now they are increasingly giving out of a sense of doing something they want to do, that meets the needs of others, that they can do better than commercial interests, government or existing philanthropy. They can express gratitude for their wealth, and their identification with others less fortunate, and that makes them happy.’” Beating the Midas Curse, by Perry L. Cochell and Rodney C. Zeeb, Page 148 -149
- “Baby Boomer Yearnings: 1. Values, not Valuables: uncomfortable discussing inheritance out of context; wish to discuss family traditions &history, sharing stories, values, hopes. 2. Legacy Gap: talking about inheritance but not in a meaningful or productive way.3. Ideal Legacy Advisor: The top qualities both generations look for in a legacy advisor: honesty, trustworthiness, compassion, a good listener, and strong communicator.”- 2,267 boomers and their elders surveyed, Allianz, 2005, with Ken Dychtwald