Most Rich Americans Believe in Teaching Children About Giving

Even in tough economic times, wealthy Americans still believe strongly that they have a duty to give, a new survey says.

About 69 percent of rich people said they have a responsibility to pass on to their children a tradition of philanthropic giving, according to the study by U.S. Trust of 642 people with investable assets of at least $3-million.

Two-thirds of those who are 67 and older and 73 percent of baby boomers said philanthropy is an important social responsibility for all generations. About 53 percent of those age 18 to 46 said charitable giving is a responsibility.

Attitudes by the wealthy on how to create positive social change differed by generation and gender.

Of those 18 to 46, 44 percent said they were more likely to see an opportunity to effect positive change through their work, compared to 18 percent of baby boomers.

Nearly one-third of the younger generation, compared with only 11 percent of baby boomers, said they could help to better society by creating jobs and opportunities for others.

Meanwhile, 60 percent of women and 46 percent of men said creating positive social change should be a priority among the rich.

To learn more about giving by the wealthy, see The Chronicle’s most recent Philanthropy 50 report on the most generous Americans.