It’s been said that philanthropy begins at home — and often at a very young age! Who remembers dropping coins in an offering plate or volunteering at a local charity in grade school?
These activities were often encouraged by immediate or extended family, and the sentiment may have continued through work on high school service projects and fund-raising events. Eventually, however, life can overtake charitable inclinations as the responsibilities of adulthood move front and center. Fortunately, those early experiences may resurrect themselves for many people later in life, and that’s when the true joy of philanthropy can flourish.
A lifetime of financial success often generates more assets than needed to fund a family’s lifestyle, so many turn their attention toward forming a lasting legacy. While it may initially feel like starting from scratch, going back to childhood interests may offer a point of departure for the planned journey. What are some steps to take to re-start the charitable engine? Realizing that every family is unique in its interests, here a few suggestions:
After investing a lifetime in accumulating and managing wealth, it is sometimes surprising to gain so much personal benefit and satisfaction from reinvesting hard-earned funds into projects with an intangible return. Westwood is well equipped to discuss the benefits of a charitable giving plan to support your family’s legacy — and to generate results that reach far beyond the horizon you might have seen as a child!
Senior Vice President, Westwood Wealth Management