Year-End Opportunities and Reflections On Giving
As we look to gather with friends and family this week to enjoy the Thanksgiving holiday, we hope you are able to take some time to pause from the hustle and obligation of life and reflect with a heart of gratitude on what matters most to you.
Charitable giving and philanthropic endeavors have always been at the core of our approach at Trinity and how we operate with our time, talent and resources. This time of year brings forth opportunities where we get to give, serve and share for the sake of others – especially on behalf of those who might be struggling and organizations whose sole purpose is to serve those in need.
I want to bring to your attention two opportunities, as well as some additional thoughts I’ve been reflecting on regarding generosity. I hope you will take a moment to read them.
PARTICIPATE in the Angel Tree Toy Drive
As part of our extended Trinity family, we want to invite you to participate with us again this year as we support the Salvation Army’s Angel Tree Toy Drive. Trinity will be holding a toy drive to collect gifts that can be given to families in need this holiday season. You can drop off toys at our office until Friday, Dec. 13. The Salvation Army has provided Walmart and Amazon shopping lists to help select age- and gender-appropriate toys to make gathering the right gifts even easier.
2. SUPPORT your favorite nonprofits on #GivingTuesday – December 3
The Tuesday after Thanksgiving is known as #GivingTuesday – a global day of generosity to help unleash the power of people and organizations to transform their communities. Many nonprofits need year-end support to propel them toward the work slated for the upcoming year and hit the ground running. Support of issues and causes that matter to you can often extend even further through companies matches or sponsors that are willing to match donations on this day.
GENEROSITY: The surprising answer to a life of striving
For those of you who have been with Trinity for some time now, hopefully it will come as no surprise how we feel about generosity. While it often gets shrouded in financial terminology such as philanthropy or charitable giving of investments with the promise of year-end tax deductions, we make a point to highlight the importance of generosity – especially as people become more attuned to giving during this season.
In all our years of helping clients invest in what matters, not once have I heard someone say – Geoff, I wish I had been less generous. Conversely, many people come to the conclusion that, once generosity has become a formal part of their investment plan, they wish they had given sooner.
The challenge of “when” to give and “how much” often become barriers to action. The tendency to wait, to ensure certain markers of success or the generational wealth people have been striving for are met before generosity kicks in is undeniable in all of us. But here’s the reality – the goalposts are always moving. Investments will occasionally fail to meet your expectations. And there is a desire to “recover” first, that puts generosity in the backseat – “at least for now” we tend to tell ourselves.
But when asked what people are truly striving for, I can tell you this: it typically isn’t some threshold number. It isn’t generational wealth of a certain amount that ensures the next generation doesn’t have to strive at all. In fact, that’s far from what people say they want.
What I believe people truly desire is a life of impact. To know they made a difference. For some it’s a legacy that far outlives them or their family. The ones who achieve that kind of impact look far beyond themselves, their family or the company they keep – Generationally Generous.
Andrew Carnegie is perhaps our most generous example, a man whose peak wealth (in 1901) exceeded that of Bill Gates, Sam Walton and Warren Buffett – combined. And his impact to this day remains unparalleled, as you and perhaps your children or grandchildren have beckoned the door of a Carnegie Library – the beautiful Main Branch of the Columbus Metropolitan Library is one of those libraries. It was built in 1907 with a $200,000 gift from Carnegie. It was one of 2,509 libraries he funded worldwide. Millions of children have access to knowledge and opportunity thanks to Carnegie’s libraries.
Carnegie wrote out his intentions to give virtually all of his wealth away during his lifetime. It seems Carnegie knew that his legacy wasn’t in the steel industry itself, but in everything else steel afforded him to do – leaving a legacy to benefit generations of people he would never meet.
You and I cannot have the impact we desire if we do not act. We have opportunities to witness and feel that impact on the lives of others right now when we choose to be intentional and generous.
If you want to discuss what generosity might look like in the context of your financial plan, please let us know, we welcome the opportunity to have that discussion.
All of us at Trinity want to extend our thanks to you for trusting us to guide you in your financial endeavors and helping you pursue your financial goals. We are grateful for the strong relationships we’ve built together and the opportunity to be working with each of you.
Wishing you and your families all the best this Thanksgiving season.