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Winter 2023


Having money as a tool to try to manifest goodness, it's a privilege.

I take it seriously.

~ Lauren Powell Jobs


Dear Joanna,


Seasons Greetings from New York City! There is no denying that the Big Apple creates an unforgettable holiday atmosphere. People worldwide come to this arguably most expensive city to experience its brand of holiday magic. There is a sense of celebration and joy all around. No wonder, spending money on experiences is a proven source of happiness and long-lasting memories.


Another way to use money to increase our happiness is by spending it to benefit others, including charitable giving. We often think of charitable giving from a place of privilege rooted in gratitude for our good fortune and a desire to use it for the greater good. If this is your reason for giving, fantastic! However, we can think of giving as more than just a moral obligation by seeing it as a source of pleasure.

 

For the longest time my charitable giving wasn't very satisfying. Things changed when I started supporting organizations where I could get involved and see or envision the impact of my gifts. I experienced a significant emotional boost as a donor once I could get on the construction site with Women Build and work with other women alongside a single mom who would be living with her children in a home we were building. Working at Good Work Foundation in rural South Africa made me very happy once I could see the profound impact every dollar I gifted had on the lives of young girls and women.

 

There are many reasons to feel grief or even fear these days, and the best way to overcome these feelings is to get into action. Being in action transforms our capacity to deal with what is happening. If you are not yet connected with any form of addressing the issues we face, I invite you to find your way to an activity, a group or organization, or a volunteer opportunity. The concept of manifesting goodness extends beyond monetary contributions. It encompasses acts of compassion, empathy, and social responsibility that do not necessarily require significant financial resources. Recognizing this broader definition allows us to embrace our capacity for goodness regardless of our financial standing. Our impact will extend far beyond our individual acts of benevolence.


May you enjoy this holiday season. I am so grateful for your friendship and engagement with MoneyWise and its mission.


Dream. Plan. Prosper.

PHILANTHROPIC GIVING GUIDELINES

A few quick tips for the most impactful charitable giving. Download my Philanthropic Giving Guidelines here.

TAX BENEFITS OF GIFTING

Philanthropically inclined? Donor-advised funds can be used to create a family legacy for charitable giving and philanthropy decision making. Read here about cost-effective and simple ways to set up and administer them. Or watch this short video.


SMALL STEPS TO SAVE BIG BEFORE 2023 IS OVER

While taxes may be the last thing on your mind during the holiday season, small steps you take now may result in big savings on your 2023 tax bill. From maximizing deductions to optimizing investment strategies, some simple yet proactive measures can help you keep your hard-earned money in your pocket. Click here for a list of questions and considerations you can start implementing now to potentially yield substantial tax savings in the future.

TEACH KIDS THE GIFT OF GIVING

Teaching kids that giving gifts is even more fun and meaningful than receiving them can be a tough lesson to share. Just like you identified your values to guide your charitable giving, sit down with your kids to create family values. You might be surprised what you learn matters to them and they gain a sense of ownership over them. Those shared values can become the North Star for your family, guiding you to live a life aligned with your values. See how Adam Grant, Ph.D. and organizational psychologist at Wharton, found creative ways to teach the importance of family values and giving to his kids. Watch now.

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