The Nebraska Rural Radio Association (NRRA) explored a phenomenon known as the transfer of wealth on the Rural Radio Forum, which aired recently.
The Nebraska Community Foundation (NCF) had recently conducted the 2021 Nebraska Transfer of Wealth Study, documenting that more than $100 billion in Nebraska wealth would transfer from one generation to another over the next 10 years. Over 50 years, the figure would swell to $950 billion.
The 2021 study was the third of its kind and NCF had said it would be a vital tool in inspiring Nebraskans to think about their communities in bigger terms.
Scenarios were driven by assumptions about the future, based on historical trends, census data, increasing agricultural land values, household income, and other key indicators.
During the forum, NCF President and CEO Jeff Yost had joined the NRRA in the hour-long program to discuss the study and how endowments grow local communities. The program had also featured community leaders across the state who had achieved great success by leveraging this data and inspiring community members to leave part of their wealth to their hometowns.
The unveiling of the 2021 study had also marked the beginning of NCF’s Five to Thrive campaign, which urged Nebraskans to consider leaving 5% of their estate to their hometown.
Giving just 5% to local charitable causes would amount to more than $5 billion in the next decade – and $47.5 billion over the next half-century, according to NCF.