If you grew up in a family that valued giving back, chances are philanthropy has always been a part of your life. Maybe you volunteered, attended fundraisers, or gave to certain causes every holiday. Or maybe you had fewer opportunities to give back earlier in life, but now feel passionately about a specific cause. Now, as you step into your own financially, you have the chance to create your own giving strategy; one that mirrors your values, priorities, and long-term goals.
From Participation to Strategy
Previously, your experience with charitable giving may have been shaped by your family’s traditions or the organizations they chose to support. Now, you can take a step back and ask yourself, “What causes matter the most to me? What impact do I want to make?” With financial independence comes the ability to choose where, how, and why you give.
Wrapping Your Mind Around Philanthropy
Philanthropy isn’t just about giving out money – it’s about creating meaningful, lasting change in ways that align with your values. Beyond traditional giving (such as giving directly to charities via one-time or recurring donations), there are various ways to deepen your impact and drive long-term progress for the causes you care about:
- Impact Investing: Aligning your investments with your values by funding businesses or initiatives that drive causes
- Board Involvement: Taking a leadership role in a nonprofit to help guide its mission and growth
- Intentional Giving: Organizing your giving to boost both impact and tax benefits over time
What’s Your Philanthropic Identity?
As you move from family-driven giving or take your first steps into personal philanthropy, take some time to explore what matters to you. This could mean supporting innovative startups that address important social issues, focusing on local community needs, or establishing a giving plan that grows with your financial goals.
As you start to explore the best ways to give, consider seeking advice from financial and philanthropic advisors to ensure your generosity matches both your values and overall financial strategy.