Have you ever wondered what life must be like for the young, wealthy, and privileged? The very idea of having ample resources at your discretion in your twenties or thirties can trigger a tidal wave of ideas for unique and fabulous experiences. However, it’s not what you may expect. It turns out that a significant number of millennials are conflicted with their status of wealth. A number of these individuals suffer from feelings of shame and isolation. Attempts to hide their legacies only compound these issues. In an article published in the Washington Post, one of the millennials interviewed quoted that they, “…didn’t know how to feel integrity and be wealthy, so they just pretended they weren’t.” This notion is in stark contrast to what most people outside their world would assume. Philanthropy has become a powerful method of resolve for this class.
Investing in charity has offered some of the young and wealthy some relief from the emotional conflict they are experiencing. Some have even formed organizations to help guide the redistribution of their assets. One such organization is the Resource Generation. Resource Generation is a nonprofit organization based in New York. Membership is made up of young individuals who are seeking ways to distribute their inherited wealth. They currently have 16 Chapters and 14 full-time staff. Required annual dues are 10 percent of the member’s income. The mission is about changing the dynamics that fuel wealth inequality. They believe that by infusing resources into specific grass-roots movements, long-term impact on critical social issues can be attained. It has been noted in the past, that charitable funds have not been adequately appropriated to the neediest causes. The goal of the organization is to change that pattern.
Although having access to wealth from birth can be the start of a comfortable life, the issues highlighted by these youth are quite revealing. It is often said that to live your best life, you must be satisfied in all areas of your life. Managing inherited legacies for some brings a great deal of stress. Implementing a plan to place all of these circumstances in a state of balance is essential to these young millennials. It’s an example of how we all can reassess our values.