The Generous Generation: What Will the Baby Boomers Be Remembered For?
By Mark C. Engasser, MD — Board-Certified Orthopedic Surgeon
My parents belonged to what we proudly call the Greatest Generation.
They lived through the Great Depression, experienced World War II, and helped build the country that gave my generation so many opportunities.
My generation, the Baby Boomers, has had a pretty good run.
We've witnessed remarkable advances in medicine, technology, transportation, and communication. We've enjoyed opportunities our parents could scarcely have imagined. And many of us have accumulated considerable wealth along the way.
But here's something I've been thinking about lately.
What exactly are we going to be remembered for?
Our music? Our cars? Our ability to turn a perfectly good kitchen into a six-month remodeling project?
Or could we leave behind something considerably more meaningful?
The Haves and the Have-Nots
Despite the extraordinary wealth in our country, the gap between those who have substantial resources and those who struggle to meet basic needs remains enormous.
Some people have more money than they could reasonably spend in several lifetimes. Others are working multiple jobs just to pay the rent.
I don't believe we should feel guilty about financial success. Many people worked hard, took risks, saved carefully, and made sacrifices to build what they have.
But I do believe that success creates an opportunity—and perhaps a responsibility—to help others.
And that doesn't necessarily mean writing a check to the first organization that sends you a glossy brochure.
Can We Do Better Than Government?
Government has an important role in addressing poverty, healthcare, education, and other social needs.
But large government programs can become inefficient, bureaucratic, politically driven, and sometimes corrupt.
Money gets allocated. Committees meet. Reports are written. And occasionally, you wonder whether anyone actually solved the original problem.
I believe individuals, families, private foundations, and community organizations can often do things differently.
We can identify specific needs, respond quickly, support innovative ideas, and follow the results.
We can ask a simple question:
Did our contribution actually make someone's life better?
Private philanthropy won't replace government, and it shouldn't be expected to. But it can provide practical solutions where large institutions have struggled.
The Greatest Wealth Transfer in History
Over the coming decades, an extraordinary amount of wealth will pass from Baby Boomers to their children, grandchildren, and charitable organizations.
Think about that for a moment.
We're talking about trillions of dollars.
Most of us spend considerable time thinking about estate planning, investments, taxes, trusts, and how our assets will eventually be distributed.
Those are important considerations.
But here's another question:
Why wait until we're gone to do something meaningful with some of that wealth?
There's something uniquely rewarding about seeing the results of your generosity while you're still alive.
Helping a student complete an education. Supporting a family facing unexpected hardship. Funding a promising medical initiative. Helping a community organization accomplish something it couldn't otherwise afford.
Those are investments with returns that don't appear on a brokerage statement.
Generosity Isn't Just About Money
Not everyone has accumulated substantial financial wealth.
But nearly everyone has something valuable to contribute.
A retired physician can mentor younger healthcare professionals. A business owner can help someone start a company. A teacher can tutor a struggling student. A grandparent can share wisdom and encouragement.
And sometimes a phone call, an introduction, or a few hours of personal attention can make more difference than a financial contribution.
We've spent decades accumulating knowledge, experience, and relationships.
Why not put those resources to work?
Let's Get Our Children and Grandchildren Involved
One of the most important things we can pass to the next generation isn't money.
It's an understanding of what money can accomplish when used thoughtfully.
Imagine involving your children and grandchildren in charitable decisions. Let them research worthwhile organizations, identify people who need help, and participate in deciding where resources can make the greatest difference.
They'll learn something that no investment account can teach them.
Wealth is a privilege. Generosity is a choice.
And making that choice together can become a family tradition.
Giving While We're Living
I like the idea of giving while we're living.
Not simply leaving instructions in a trust document for someone else to carry out years from now.
I want to see what happens.
I want to know whether a student graduates, whether a struggling family gets back on its feet, or whether a charitable project succeeds.
And I suspect many people in my generation feel the same way.
After all, what's the point of spending a lifetime accumulating resources if we never experience the satisfaction of using some of them to help others?
Our Generation's Opportunity
Every generation inherits something from the one before it.
And every generation has an opportunity to leave something better behind.
Our parents earned the title of the Greatest Generation through sacrifice, resilience, courage, and service.
The Baby Boomers may never agree on politics, music, or whether pickleball is actually a sport.
But perhaps we can agree on something more important.
We have an extraordinary opportunity to use our accumulated wealth, knowledge, experience, and influence to improve the lives of others.
Not because we have to.
Because we can.
“If our parents were the Greatest Generation, let's make ours the Generous Generation.”
And perhaps our greatest legacy won't be measured by how much we leave behind.
It will be measured by how much good we accomplish while we're still here.
— Mark C. Engasser, MD
Want to put these ideas into practice?
Explore Ways to Contribute Your Resources →Dr. Pickleball's Musings reflects personal observations and opinions intended to encourage thoughtful discussion.