Reason for this Goal: A philanthropist is someone who seeks to promote the welfare of others, especially by the generous donation of money (and/or time) to good causes to make other people’s lives better. One of the great reasons to achieve the financial goals suggested at 100 Goals Club is so that you will be in a position throughout your life, particularly during the latter part of your life, to give away some of your wealth to organizations to make people’s lives better.
This goal is in addition to donating to charities, which is the topic of goal # 93 (donate to charity), and is more focused on helping distribute some of the wealth you’ve accumulated throughout your life, while still having money to support the next goal, to leave a financial inheritance.
Your personal reasons for being a philanthropist could include:
There are examples of high profile individuals in your community who are philanthropists, who have donated large sums of money for great causes. Sometimes they are recognized by having their name attached to a building, representing the organization they supported (e.g., in our area, the name, Michael Lee Chin, who is a Jamaican business magnate, investor, and well-known philanthropist for supporting such things as the Joseph Brant Hospital Foundation and the Royal Ontario Museum in Toronto).
Another famous philanthropist who donated significant amounts of money in Canada is Ron Joyce, co-founder of the Tim Horton's restaurant chain. There are hundreds of high profile philanthropists in most countries. Wouldn't it be great if you could add your name to the list.
There is a book written by Tracy Gary: Inspired Philanthropy: Your Step-by-Step Guide to Creating a Giving Plan and Leaving a Legacy. In this book, she makes the point that you don’t have to be rich to be a philanthropist. She suggests that philanthropy is more about bringing your giving in line with your hopes for a better world.
Suggested Goal(s): Donate up to X% of your net worth to worthy causes during the last two decades of your life.
Your Outrageous Goal: Donate more than $1M to worthy causes.
Return to giving back/legacy goals.