You need the confidence to do more!

Based on your answers, there is much more you could be doing to give to charity – you just need the confidence that it won’t financially jeopardize your financial legacy in order to act. Clarity and confidence are the main ingredients needed to fully embrace the power of charitable giving. Once you are able to clearly understand your financial situation through careful analyzation and expert knowledge, you will gain the necessary confidence to give in a way that benefits both your legacy and your community. We all have money we know we will not keep; but instead of viewing that as an expense, why not capture it as an asset? What you do for society is part of your worth and, ultimately, part of your legacy

Next Steps

  1. Run your numbers
    The numbers will tell us whether a certain strategy makes sense. The numbers rule. You cannot make an informed decision unless you have the “before” and the “after” written down in front of you. You need to clearly see the tax and financial impact of what you are contemplating.
  2. Realize your limitations
    Many people need to come to terms with the fact that they do not know everything, and that’s okay. They probably gained their wealth through some talent other than financial savvy and investment skills. Each of us has a forte, and it well could be that the talent that created the money is not the same talent needed to hang on to it.
  3. Partner with an expert
    You can learn some basic definitions online or from some of the financial institutions, but you need more than that. You could also get basic medical information online, but I would not want just anybody treating me. What you need is sound advice that is tailored to your situation, preferably from an expert in charitable wealth management. You need someone to take a close look to see whether what you have in mind for charitable giving makes sense for you.

Read my book Finding Your Money’s Greater Purpose: How to Make Your Legacy Count for more insight.

Share Your Experience

We’d love to hear how your charitable organization is making a lasting impact on the world. Follow me on Twitter at @PatRenn and use the hashtag #MoneysGreaterPurpose to join the conversation!