Why is giving important?
 

Why? Why is giving part of every financial plan? Thoughts?

Because we never know when we'll need.

You didn't have a good time in that hotel escaping the heat did you? It's not in my plan, I'm so poor I can't afford to pay attention. Seriously, Kuan, I don't give money but I'll donate my time....

Well why donate your time? What good does it do for you?

I had a good time, seriously. :)

can i give you a swift kick in the arse? lol just kidding

Glad you had a good time, I don't have alot of money and want to give something back to the "ethers" so to speak and I spent a good deal of my weekend time working with sick children who have AIDS and other life threatnening illnesses(sp). It made me a better person, giving of myself vs. money, anyone can give money but not everyone can work with children who are dying. As a result I am thankful for every new day, every breath I take and glad for those around me whom I love even more.....those children taught me alot.

Uhh....taxes ?

You can debate the usefulness of "giving" all you want, but when it comes to financial planning, I think the only purpose to planned giving is for tax advatages (writeoffs?) and goodwill that can be "bought" from the people you are giving to... The only example I can think of is when someone gives a large sum to a church, that person stands a good chance of being considered a "good person" and more highly respected in that circle, perhaps in their older years the pastor will visit them more, or they will be asked to serve on the church board...
Obviously, Good will isnt assured.

-John

No their is more to giving then a tax right off. Read any good book on success and giving is mentioned. It is the responsiblilty of any successful person to give back.

Besides it doesn't have to be money, helping troubled kids, cleaning up beach's. I did a beach clean up a couple of years ago and had a blast.

Its good karma to give, once you have enough for yourself and your loved ones. People in the US are among the most generous in the world, making possible lots of research, medical work, cultural venues, and preservation that would otherwise not be done. For the really big philanthropists, its a way to get your name on a cornerstone and leave a legacy behind.

Hmm
 

I am a college student, but work my a$$ off in the summer to accrue cash, as well as during school..I'd like to be successful when I get out of college, and this is where some giving comes into play:

When you help someone out, usually they remember you. At least I always do..

For me giving either money or time, on top of being just plain nice, is a GREAT way to forge bonds with people you may not have been so close to, and IMO the more people you help now, the more people who may possibly be able to return the favor in the future if you need help yourself.

Giving sends a message that you care enough about the individual/cause to volunteer something valuable...and I've found a lot of times that later these seem people who were in need can come to you in your time of need...

As mom said "One hand always washes the other"

The cynics say
 

"Charity isn't something you give, it is something you deduct"
~~~

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Why is giving important?
 

Because someone needs to give Kim Jong Il a nuclear firecracker up his a$$

"When you care enough to give the very best"

So, two days and I don't think I've figured it out yet. Why should I give away money if I want to become rich? In fact, why should I give away anything that's mine? After all, it really seems to be the survival of the fittest out there as some may like to point out time and time again. So what if it makes me feel good? So what if there are a bunch of cancer stricken kids out there? I know, and I work just as hard and appreciate life just as much as if there weren't any kids who were down on their luck. I don't need people to do me favors and I don't want to owe any. There are other ways to safeguard my future.

So why give?

The way I see it, you spend your younger years earning money. You don't necessarily need to give any of it away during this phase. As you get to the point where you have made your money, you usually look back with some fondness on the industry, friends, associates, etc. that helped you get where you are. At this point, if you can afford it, it is quite proper to give donations to help those who may be starting out (in your chosen field) and also to charities that you find worthwhile. If you are among the Buffetts or the Gates' of the world, you can expand your giving accordingly.

I am in what I call my exit strategy, just trying to make my money and my life run out at the same time. (If I can live until next Tuesday, I have it made.) I have found that putting back into the industry that provided my livelyhood is quite satisfying. I've also found that there are some charities who do good work (mostly for the unfortunate) and don't pocket most of the money, and I prefer to donate what I feel I can to them.

There are those who may feel that, if you have it, you should share it. I don't particularly share that philosophy.

just my $.02,
Wes

I give money and time to organizations that I participate in and that reflect my values. Since these are mostly charitable organizations that do not return material goods or produce a profit, donations are how they function.

Church, for instance, or local cooperatives. In some cases the cash value can be deducted from taxes, not a bad deal.