Many people dream of getting rich and becoming a wealthy philanthropist. Ask anyone what they would do if they had millions of extra dollars sitting in the bank, and after taking care of their family’s needs and a few extravagances, the conversation often turns to charitable giving. However, the truth is it’s not necessary to accumulate substantial wealth before making a substantial difference through charitable giving. In fact, donating to charity can benefit you, no matter your net worth, and chances are you will get a lot more back than you give.
If your thoughts on charitable giving are more practical than altruistic, there’s nothing wrong with that; our tax systems incentivize giving to tap into pragmatic motivations and benefit the greater good.
Whatever your motivation or level of giving, philanthropy feels good and being generous always pays off in the end, sometimes in unexpected ways.