The Power of Philanthropy

Why philanthropy is good for your income may not be immediately apparent. However, many of the world’s wealthiest people give substantial portions of their income to charity. One of the common things that distinguishes many poor individuals from their wealthier fellow creatures is their insistence on being served and taken care of. Poor people like being dependent and lazy. Although there are exceptions in the case of those who have been injured, this common attribute is hard to miss. People who are wealthy insist on serving and taking care of others. They give generously of their time, talent, and treasure to those around them. They are often accused of being pushy and bossy, but if you look at their actions, they are busily contributing to their communities.

People who are poor like going into debt and freeloading on others. They are leeches. People who are wealthy like getting out of debt and helping others. They are doctors. Each of us has a natural tendency. Most people are selfish. Some selfish people spend all their time busily working, but do not use their hoarded assets to help others. Many consider them to be rich, but wealth does not equal money. Wealth is your property, relationships, skills, certifications, food, credibility, and shelter. People who hoard their money in a bank are not wealthy if an economic recession occurs. The other type of selfish person is the leech, who we discussed earlier. The leech demands that he or she be served, at the expense of those around them.

Becoming more successful means that we avoid the mistake of the miser and the leech. The miser groans when asked to give. They have much to give, but are unwilling to. The leech groans when he has to serve. He likes giving, but usually has little to give.

Figure out which selfish investment behavior you naturally struggle with. Resolve to avoid both. The blessing that comes from being generous with your portfolio cannot be underestimated.

Martin Lustgarten is in the business to make you and your family succeed. He shares the best tools from the experts who have already succeeded. There are so many people who want to be wealthy, but few become wealthy.

Lustgarten can help you by counseling you, and recommending steps for improvement. If you want to learn more, contact Martin Lustgarten at his Linked In account.

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