Invest in Others

I spend a lot of time on this blog sharing my thoughts on how to make a buck. In fact, it’s one third of the web site’s title! I truly enjoy investing and trying to turn nickels into quarters.

Perhaps it was the way I was raised, or maybe I’m just a typical American chasing the dream. I think we are kidding ourselves if we don’t acknowledge pursuing financial success is part of life today in America.

But I feel this week I should reflect on what I think is another important part of personal finance, giving back. If chasing a buck is as American as apple pie, I’d argue giving back is as well.  

Giving back can manifest itself in many different ways. Those who work in the serving professions to include military, healthcare, clergy, education and emergency services give back every day.  For most of us, giving back means donating money, possessions, time or a mix of all three.  

How can we raise a family, pay bills, invest like crazy for the future and still be able to invest in others? I would suggest these endeavors are not mutually exclusive. 

Many employers have opportunities to give back. Both my private sector and government employers participated in some great charitable organizations including Army Emergency Relief, Feds Feed Families, Combined Federal Campaign and Wreaths Across America to name only a few.

Investments in others can be set up just the same as many of us set up the funds going to our retirement or small business accounts each month. This means automatic donations as part of a regular monthly budget. That being said, giving back doesn’t always have to be monetary.

Contributing time to community organizations, religious activities or other charitable causes is also an effective way to give back. Donating household items or food is yet another great way to help those in need.

But why give back and invest in others? I’ll avoid any justifications based on moral or religious beliefs and just assert that giving back meets a basic human need. I found this week’s featured pic interesting. It is a pic from Great Depression era Chicago of a soup kitchen operated by Al Capone!

While there are obvious tangible benefits to charitable giving, especially around tax time, it is the personal satisfaction that just can’t be matched. Giving back helps us not only feel good about helping others, it helps us feel good about our own circumstances.

It is human nature to sometimes perceive we are trailing behind in life even when we may be doing alright.  Giving back humbles us by serving as a reminder that there are so many struggling in about every imaginable way. As a result, we become more thankful and appreciative of what we have.

Our family is fortunate to be able to give back a percentage of our income each month. The amazing thing is, we don’t even miss it and the peace of mind we gain is invaluable. I hope our children will feel the same way as they embark on their journey as adults.  

Seeking wealth and becoming a millionaire is an understandable financial goal in today’s society. There is no shame in working hard to be financially successful. But, we can’t focus on this goal to the extent it lessens our perspective on humanity. Invest in others. It really does provide clarity on what’s important in life! 

If you’re interested to learn more about financial truths that helped guide my family’s finances, check out my new book “Millionaire on a Worker’s Budget: Five Financial Truths to Build Wealth” on sale at Amazon!

The commentary provided in this blog is for informational purposes only and is not intended to be a source of financial or investing advice.

The views, opinions and biases expressed in this blog are my own and do not reflect those of the U.S. Army or the Department of Defense.