Charitable giving surpasses half a trillion dollars because of people like you

Financial Advisors Say The Darndest Things

In this episode of Financial Advisors Say the Darndest Things, A.B. Ridgeway explores the trend of billionaires and millionaires giving away significant portions of their wealth. Drawing on data, Biblical principles, and practical financial advice, he helps listeners understand the deeper implications of giving, the pitfalls of financial vanity, and the true blessings that come from generosity.

3 Key Takeaways

1. Wealth Isn't Satiating
   • Accumulating wealth often leads to a cycle of dissatisfaction. As Ecclesiastes 5:10 states, "He who loves money will not be satisfied with money." True fulfillment comes from purposeful giving, not endless earning.
2. Giving Reflects Security, Not Scarcity
   • When we give, it signals to ourselves that we have enough and will be okay. Charitable giving not only benefits the receiver but also reinforces the giver's financial confidence.
3. Balance Your Giving
   • Generosity is vital but should never come at the expense of your own stability. Be mindful to give within your means, ensuring your family’s essential needs are met before extending help to others.

3 Memorable Quotes

1. "The act of giving is a signal to yourself psychologically that you will be okay."
2. "We work 20, 30 years to accumulate wealth, but it's not about how much you have—it's about what you do with it."
3. "He who loves wealth with his income will not be satisfied; this is also vanity." - Ecclesiastes 5:10

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*Disclaimer: This communication is not intended as an offer or solicitation to buy, hold or sell any financial instrument or investment advisory services. Any information provided has been obtained from sources considered reliable, but we do not guarantee the accuracy or the completeness of any description of securities, markets or developments mentioned. This is strictly for information purposes. We recommend you speak with a professional financial advisor.

Source: https://philanthropy.indianapolis.iu.edu/news-events/news/_news/2024/giving-usa-us-charitable-giving-totaled-557.16-billion-in-2023.html#:~:text=Key%20findings%20from%20Giving%20USA,new%20high%20by%20that%20measure.