The SPEND, SAVE, SHARE Series -- Sharing your wealth benefits everyone
Empowering clients to SPEND, SAVE and SHARE their money with confidence is the foundation of my daily work. It informs my decisions and interactions at every turn. There’s no ignoring the fact that money plays a key role in our lives, so why not make it a positive one. The following blog is the third and final in a series of three that will spotlight these three equally important actions we can take with our money – SPEND, SAVE and SHARE.
Today we talk about SHARING.
Sharing one’s wealth can be immensely gratifying. And well, it can be done during your lifetime and after you become an angel. For myself, charity has always begun at home. Not only do I make a point of educating my children about the importance of giving to others – I also make sure my charitable gifts have personal meaning, so I give to causes that my family has been directly impacted by.
Generous businesses benefit
Businesses that share their wealth with charity almost invariably benefit themselves. Studies have shown that businesses that support causes generally see a high employee morale and a positive marketing exposure. It can also benefit their bottom line come tax season. It is even more advantageous if the business supports a cause that is strategically in line with their mandate.
Leaving gifts behind
None of us know when our end will come, but we know it will come eventually. And it’s comforting if we know we can leave something behind for those we love and care about. Commonly known as leaving a legacy, this type of wealth sharing is important to many. It’s an expression of love but also has practical application. In fact, for some, a legacy gift could represent a young person’s first opportunity to begin saving or investing in earnest, for their own personal security.
Sharing is good for the body and soul
It’s true. By sharing your wealth with charitable causes, you do yourself some good too. Studies have shown that not only do we feel better about spending money on someone else other than our ourselves, but that our bodies respond with fringe benefits including enhanced sleep and lower blood pressure.