…At home? That’s what many say. I don’t think that’s correct, since most real charity involves helping causes outside the home. Where it doesn’t begin, though, is in the advisor’s office. And it should. At least, that’s my harsh opinion. The discussion certainly has a place with advisors and their clients. I’ve been puzzled for most of my now thirty-five plus year career as to why that remains true. Makes no sense to me that advisors don’t ask questions of their clients about their giving impulse.

Study after study codify and verify that these conversations are desirable to clients. They want to talk to their advisors about their giving. They would switch to an advisor who would. They need help. They don’t give wisely or with a plan. If goes on and on. And yet here we are and advisors are still not upping their games.

Philanthropic tools are powerful planning tools. Understanding them and using them properly is invaluable. Can you plan properly with half of your tool bag empty? Makes no sense to me.

Wealth, prosperity, and abundance are often used interchangeably. However, they are not the same at all. They do relate to each other at sometimes and our vocabulary blurs their differences regularly. Popular phrases, such as “prosperity consciousness” and “abundance mentality” and “wealth is more than money” only add to the confusion.

Here is what the dictionary says of each:

Wealth. An individual who is considered wealthy, affluent, or rich is someone who has accumulated substantial wealth relative to others in their society or reference group. In economics, net worth refers to the value of assets owned minus the value of liabilities owed at a point in time

Prosperity usually means the type of success that comes from having a lot of money. Our modern English word derives from Middle English prosperite, borrowed through Old French from Latin prosperus "favorable." The Latin word also means "fortunate," and the word prosperity does have an element of good luck.

Abundance a copious supply; great amount. fullness or benevolence from the abundance of my heart. degree of plentifulness.

Wait, here is a wild card …

But what most enlightened people consider as wealth has nothing to do with money. Seeking true wealth may mean seeking deeper relationships, more personal growth, or ways to create more meaning in life. Achieving true wealth means possessing the ability to enjoy the small, ordinary pleasures of life.

And the confusion continues.

In fact, many who strive to accumulate more and more financial wealth, do not feel prosperous and likely do not sense abundance. The desire to continue to amass more and more comes from a sense of lack, not a sense of plenty.

Don’t confuse the three. They each have distinct definitions and uses.

For more information contact Two Hawks Consulting today.

9725 Woods Drive
Suite 2009
Skokie, Il 60077
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