It's not a surprise that retirees donate more time to charity than younger workers; 45 percent of volunteer hours are provided by retirees, who obviously have more time on their hands than people still working. But it may be a surprise that they give more money, too.
Retirees gave 42 percent of all the financial charitable contributions in this country last year, even though they make up just 31 percent of the adult population. That's according to figures provided by Age Wave, which conducts research into aging trends.
They may have found out that giving is a key ingredient to a better retirement. Compared to those who do not volunteer or donate, retirees who give say they have a stronger sense of purpose, have higher self-esteem, and are both happier and healthier than those who do not contribute.