New slide presentation on how people make death-related financial decisions (planned giving, estate planning, life insurance, annuities, healthcare)
Russell James, J.D., Ph.D., CFP?
Professor of Charitable Financial Planning at Texas Tech University
For normal people who don't want to slog through the full academic journal article (available here: article), here is a slide presentation (available here: SlideShare) giving the major ideas found in the article and how they apply to a range of decisions such as planned giving, life insurance, annuities, estate planning, end-of-life medical planning, and other death-related topics.
One interesting result - effective communication strategies across a range of death related decisions share common characteristics 1. If you want a larger audience, don't lead with death, 2. It's OK to lead with death when you have a captive audience or you want to limit your audience, 3. Emphasize LASTING social impact, 4. Present a "social norm" default solution.
Professor of Charitable Financial Planning at Texas Tech University
7 年Susan, thanks so much for your kind comments. Results suggest confidence in the introducing the concept of legacy, although the effects of that particular word is less certain. So, for example, people increase their interest in supporting an environmental charity if they are first asked to rate the importance of "Being a good example for the next generation," "Making a lasting impact in the world," and "Insuring that your values will be remembered by future generations." These are all reminders of legacy concepts. However, when we asked people to rate their interest in clicking on a button on a charity website to read the accompanying information, 28% indicated that they might be or were definitely interested in reading about "Will planning," but only 18% indicated similar interest in "Legacy planning" or "legacy giving". Although this was slightly higher than interest in "estate planning" (16%) or "estate giving" (14%), it was definitely not the best "go to" phrase. But, then "gift in a will" has repeatedly been the best performing description of legacy giving.
Life begins Under Your Surface. Soul #Confidence Leads to #Legacy.
7 年wow, comprehensive, thoughtful, useful content!! question: is the word 'legacy' a 'death-word'? or a 'life-word'? an interesting topic to debate. clearly 'impact' is the life-word, i get that. but you've opened my eyes to a new way of thinking about this topic. thank you!