| A bear market and inflationary pressures may have many Americans feeling less wealthy lately, but not necessarily less generous.
Don’t worry kids, Santa Claus is still coming to town to support those in need. His bag, however, might be a little lighter due to the bear market.
With the S&P 500 sinking 15% since the start of 2022 and the Core U.S. Aggregate Bond index down 14%, it’s setting up to be a blue Christmas for charitable organizations. And it’s not just sinking stocks and bonds that will weigh on Americans’ abilities this year to dig as deep as they have in years past, or deeper. Gold, real estate and housing prices have also collapsed, all serving to make Americans feel less wealthy.
Not less charitable — to be clear — but less wealthy.
America has always been, and will always be, a philanthropic nation, no matter the direction of stocks in any given calendar year. In fact, the U.S. has been the world’s most generous country this past decade, according to the Charities Aid Foundation’s World Giving Index. Individuals, bequests, foundations and corporations gave an estimated $484.85 billion to U.S. charities in 2021, up 4% from 2020, according to Giving USA…
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