Wednesday, January 18, 2012

Giving Is Going Up

Here's another sign of an improving economy: The nation's wealthiest citizens are able to be more generous these days. According to a survey conducted by PNC Wealth Management, 24 percent of all investors with assets greater than a million dollars donated between $25,000 and $999,000 to charitable causes in 2010. As recently as 2008, the figure was just half that, at 12 percent.

Moreover, the trend looks like it's still going up. Some 21 percent of the millionaires surveyed say they plan to increase their giving this year. And only 11 percent say they're concerned about their ability to make those contributions; almost twice as many respondents had said the same thing back in the 2008 survey.

Although their ability to give might have changed, one thing that hasn't changed is the fact that the wealthiest feel obligated to give back to their communities. Almost three fifths of the millionaires surveyed said they felt that obligation, a number that has not changed since 2008 - when the economy was in full meltdown.

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