It may seem counterintuitive to tell people that preserving wealth across generations requires teaching heirs to give it away. This idea often raises eyebrows: Why would I want to teach my posterity to give away the nest egg I worked so hard to build? The answer is simple: charitable giving changes how people perceive money.
An inheritance is easy to receive, but when money comes too easily, it’s hard to truly appreciate the work, sacrifice, and discipline it took to create it. It’s also easy to lose sight of all the good that can be accomplished. Instead of being seen as a tool for impact, money risks being reduced to nothing more than a means of acquisition.
When someone learns to give, especially of both their resources and themselves, money begins to take on a deeper purpose.
For example, think of a family that donates to a charity and then volunteers with that same organization. The act of giving paired with service creates a powerful lesson. It shifts money from being just a means of consumption to a tool for good. It teaches the next generation that wealth isn’t just about what it can buy, but what it can build.
Academy Award-winning actor Denzel Washington said:
“The most selfish thing you can do in this world is help someone else, because the gratification, the goodness that comes to you, the good feeling, the good feeling from helping others—nothing is better than that. Not jewelry, not the big house, not the cars; it’s the joy. That’s where the joy is—in helping others. That’s where the success is.” 1
When families embrace this principle, giving not just money, but time, energy, and heart, they cultivate a legacy that transcends dollars. They pass on values of compassion, purpose, and responsibility. Wealth becomes about enriching lives. By teaching the next generation to give, you’re not undermining your legacy; you’re strengthening it. In doing so, you help ensure that the wealth you’ve built will not only last but will matter.
1 https://youareaphilanthropist.com/giving-is-selfish/
