"Wealth is the ability to fully experience life.”
- HENRY DAVID THOREAU -
"Wealth consists not in having great possessions, but in having few wants."
"In a country well governed, poverty is something to be ashamed of. In a country badly governed, wealth is something to be ashamed of."
"When you play too safe, you're taking the biggest risk of your life. Time is the only wealth we're given."
"Wisdom outweighs any wealth."
"The glory that goes with wealth is fleeting and fragile; virtue is a possession glorious and eternal."
"The greatest wealth is health."
"Don't worry, be happy."
Many of our clients have accumulated significant assets over a lifetime of hard work and good fortune. More assets than they will need to see them through a secure retirement-even on our conservative economic assumptions. More than they’d like to leave to their children, who they hope will chart a self-reliant course through life. For many, it is an embarrassment of riches. As we discuss with clients the question of “what it’s all for”-the money, the work, the meaning of their lives-the question of charitable giving frequently arises.
More often than not, our clients are unsure whether, when, and how to share what they’ve earned, outside the confines of established family relationships. They express that it’s easier to figure out how to earn money, than how to give it away. Our Q3 letter seeks to address that uncertainty by suggesting a framework within which to establish charitable giving priorities and consider one’s options. We do so by addressing a set of rhetorical questions-and offering some possible answers.
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