Broker Check

The Power Of Volunteering

August 25, 2021

Many retirees think about volunteering and some follow through on that thought, although according to an AgeWave survey published in June, the retirees who do volunteer spend fewer hours helping their communities or favorite causes than they would like. What if they devoted just two or three hours more per week to it? Would the effect be sizable, even profound? Maybe.  

This year, AgeWave learned that the average U.S. retiree spends less than an hour a week volunteering or doing some form of pro bono work. On average, however, retirees would like to volunteer 3.3 hours per week. The missing elements, according to the survey findings, are community resources and leader/mentor guidance. While some retirees may find volunteer opportunities through their house of worship, through friends, or by reading about an organization needing help in the media, some opportunities are less than evident. A good leader or mentor teaches volunteers how to take ownership of their roles and perform work that feels enriching and significant. If retiree volunteering did reach 3.3 hours per week, AgeWave believes that over 20 years, it would directly and indirectly contribute $6.8 trillion to society.3