What are the benefits to charitable giving?
I think many would agree that 2022 has been a rollercoaster. With the war in Ukraine, devastating natural disasters, persisting inflation, and volatility in the financial markets, the headlines we see every day are often difficult to absorb. These storylines can contribute to and even drive fear, anxiety, and uncertainty in our lives, holding us back from things we want to pursue and accomplish.
In times like these, it is common for individuals to tighten their budget and take a “hold everything” approach until we see a calmer overall environment. However, it is during times like these when action can be most impactful to those in need.
As we head into the end of the year as well as into holiday season, I wanted to share three compelling reasons to consider charitable giving this year, may it be in the form of volunteering or donating:
Joy of helping others: The core reason behind giving should be a genuine want to make the world a better place. Whether you use your time, talents, or resources, giving should come from a desire to help others live a more fulfilling life while making a positive impact in local or global communities.
Purpose-driven passion: Giving can often bring excitement and purpose to your life. Supporting or volunteering for causes you believe in can allow you to spend time doing what you love. Allocating time and resources to your passion can then open new doors and opportunities for you to explore throughout your life.
Health and longevity: Studies have shown that giving your time or resources to a charitable cause provide social, mental, and physical benefits. Surrounding yourself with individuals and organizations that share common values and a common purpose for a greater good ultimately help individuals live happier and healthier lives.
In the end, giving can vastly improve your wellbeing and improve the lives of individuals and communities all over the world.
At Wolf Group Capital Advisors, we help integrate charitable passions and goals into our clients’ financial plans while providing confidence to continue these important endeavors in any market environment. Whether that is exploring various pathways on forms of giving, connecting you with new communities of likeminded individuals, or developing tax efficient strategies to accomplish your charitable goals, our goal is to partner with you throughout your charitable giving journey. If you, or someone you know are interested in exploring their charitable passions, please feel free to reach out.
Kevin OstergaardWGCA Financial Advisor