BY ANDREW EVANS
LIFESTYLE
Making a positive difference As we edge closer to the end of 2021 and the festive season looms, this time of year often brings about some reflection on our lives. As a philanthropy adviser, I also find it’s a time of year when people are rethinking their charitable giving So, if you’re on the fence or not quite sure where to start, here are my top four reasons for thinking about philanthropy as part of your financial planning.
1 You can make a real difference The UK’s charity sector is a real jewel in our nation’s crown. With a robust regulator in the Charity Commission, you can be confident that if you give to a registered charity the money will be used well and will make a real difference in your chosen sphere – whether that’s researching cures for cancer, preserving beautiful buildings, feeding hungry kids or providing people with a world-class education.
2 It’s good for you!
It turns out money can buy you happiness – if you give it to others! An increasing body of evidence, including a study by Harvard Business Professor Michael Norton, shows that giving to others significantly improves psychological wellbeing. Other research shows that regular volunteering was associated with a 44% decrease in deaths from all causes for older people.
3 You can’t take it with you Lots of people want to leave charitable legacies in their will – and that’s a great thing to do! But I often advise clients that if you have money you are planning to give away, it’s better to experience the joy of making a difference now rather than waiting until after you’ve gone.
4 Giving brings people together Charitable giving is a great way to do something as a family and involve your children. Finding out about the issues they are passionate about and then working together as a family to support causes can really bring you together.
Find out more Andrew Evans is a Philanthropy Adviser who works with Equilibrium clients to help them think about their giving. Andrew would be delighted to have a phone call or a coffee with you if you’d like advice on any aspect of leaving a legacy. Get in touch at askus@equilibrium.co.uk or with your regular Equilibrium contact.
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