by Lauren A. Jenkins, Partner at Offit Kurman, P.A.
The pandemic era is sometimes referred to as “The Great Resignation” because of the large number of people who have exited the workforce in the last couple of years. Some are referring to this period as the Great Retirement, considering that, as Goldman Sachs estimated, more than half of the people leaving the workforce were over the age of 55.
While certainly the shrinking workforce can present unique challenges for the economy, there may be a silver lining for charitable giving. More retirement means more money in motion, from 401(k)s rolling over into IRAs, to retirees being motivated to ensure that their financial and estate plans are in good shape. In any case, there’s opportunity and the ability to fund a client’s charitable priorities.