Some say, “Money changes people.”

Unfortunately, most people automatically assume it changes them for the worse.

Money can indeed change people. It can allow someone to be more generous with their employees, friends, family, and community.

A middle-class limiting belief and philosophy is that success and money transform people into a self-absorbed version of Gordon Gekko from the film, “Wall Street.” Although Gekko famously quipped, “Greed is good,” most people would disagree with that assertion.

Those who are wealthy understand that any kind of power, freedom or liberation reveals a person’s true self. If a person is unethical before they got wealthy, there’s an incredibly good chance they’ll be worse once they have more money.

However, if you were honest, humble, and hardworking before, you may become an even better person with expanded financial resources. Many of the top philanthropists in the U.S. are also among the wealthiest.

Berkshire Hathaway chairman Warren Buffett tops the list of the top ten givers for Forbes America’s Top 50 Givers List.

And I can’t help but think of Elon Musk, again. Without his financial support, would we have Space Exploration Technologies Corp. (SpaceX), which led to a partnership with NASA?

In total, America’s 50 most generous philanthropists gave out $14.1 billion in 2018, up from $12.6 billion in 2017 and $12.2 billion in 2016. Collectively, the group’s lifetime giving—a tally of funds distributed by their foundations plus direct gifts—exceeds $173 billion.

Societies need the wealthy. They are the ones who can donate the necessary funds for schools, hospitals, and non-profit organizations. They provide jobs for thousands while keeping the wheels of innovation turning.

A person can be as caring and giving as they choose to be. Having access to the funds which can improve life for so many is just one of the more satisfying aspects of wealth. If you already try to be kind and giving, money will likely strengthen your character.

At Money & Clarity, we can suggest ideas for creating your own generous legacy. First, we’ll help you build a stronger portfolio and then, we can discuss ways to enjoy the results.

Why not call us today at 513-563-PLAN (7526) or book online to schedule your complimentary portfolio analysis? We would love to help you plan your future so you can donate to your favorite organizations. Give us a call today, and we can start the ball rolling.

Regards,
Nikki Earley, CFP® & Dan Cuprill, CFP®

P.S. Tomorrow’s postmay hit the right note for you. We don’t want to string you along, though. We’re going to pump up the volume on your financial plan!

P.P.S.  To learn the steps you can take to protect and even capitalize on recent investment volatility in light of COVID-19, check out my webinar.