Recent studies have found that people who participate in philanthropy experience greater overall happiness, lower stress levels, better physical health, and a heightened sense of connection to others. As parents, we strive to give our children the happiest, healthiest lives possible. What better way to improve the quality of our children’s lives than to expose them to philanthropy at an early age?
There are endless ways to teach our children generosity. From an early age, we can begin having conversations about giving and identify organizations we can support together as a family. One popular method is known as the “four-part allowance,” which encourages children to divide their allowance into four groups– saving, spending, giving, and investing. In these ways, children will learn about empathy, privilege, and purpose. The most effective way to teach our children these values is to model them ourselves.
Children whose parents talk to them about charitable giving are proven to be 20% more likely to give to charity than those whose parents don't discuss it. Children are impressionable. As a result of parental influence, nearly 9 out of 10 children between the ages of 8 and 19 give to charity. By including charitable interests in your wealth management, your children are more likely to follow in your footsteps and carry on your legacy.
You don’t need to be a millionaire to be a philanthropist. At Client 1st Financial, our team is here to help you give back to the communities you love in the way that works best for you. Through our Charitable and Philanthropic Planning, we can help you identify an organization, or more than one, whose work you identify with and support. From there, Client 1st will guide you through different plans – from impact investing and donor-advised funds to simply finding volunteer opportunities. That’s right - you don’t even need one dollar to be a philanthropist! Your time is just as valuable as your money.
Philanthropy starts with a choice– a choice to spend your Saturday at the animal shelter, a choice to spend your Thanksgiving at the food bank, or a choice to set up a long-lasting plan with Client 1st Financial. Make that choice to start today.