{"id":202575,"date":"2024-05-22T08:14:31","date_gmt":"2024-05-22T12:14:31","guid":{"rendered":"https:\/\/antiguanewsroom.com\/?p=202575"},"modified":"2024-05-22T08:14:31","modified_gmt":"2024-05-22T12:14:31","slug":"make-generosity-part-of-your-financial-legacy","status":"publish","type":"post","link":"https:\/\/antiguanewsroom.com\/make-generosity-part-of-your-financial-legacy\/","title":{"rendered":"Make Generosity Part of Your Financial Legacy"},"content":{"rendered":"
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Financial legacy transcends one’s lifetime and influences the lives of generations that follow. It requires careful planning to determine how money and assets are to be used and the areas where contributions can have the greatest impact. Seniorpreneur and new author, Miriam Samuel recently celebrated her 90th birthday and is determined to impact her community through financial and non-financial contributions as part of her legacy. <\/h2>\n\n\n\n

<\/a>In her book, Mirie\u2019s Magic Recipe: Loving, Leading, Legacy<\/strong>, Miriam (affectionately known as Mirie) discusses the importance of generosity through regular tithing, volunteering and sharing her knowledge and talents. In Chapter 6 titled Generosity: Love to give and give to love<\/strong>, she notes that some individuals and businesses only respond to annual appeals from charitable organizations or make ad hoc cash donations seasonally. However, Mirie recommends moving from reactive to proactive giving.<\/h2>\n\n\n\n

\u201cRather than choosing to give funds when a charity reaches out to you, strategic giving begins with a budget. You first have to identify how much you want to give \u2014 alongside your other financial goals \u2014 on an annual basis. Setting and funding a \u201cgiving budget\u201d should be part of your overall financial plan,\u201d Mrs Samuel said.<\/p>

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As a retired teacher who spent 40 years educating young minds, Mirie will donate free copies of her book to libraries, churches and civic organizations throughout the Caribbean to emphasize the importance of generosity to community development. Her books have already been donated to local public libraries in Antigua and Barbuda, as well as in Barbados and Anguilla, the main geographical settings in her book.<\/p>\n\n\n\n

Miriam recommends the following actions to maximize the impact of charitable giving.<\/p>

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Review your giving strategy regularly<\/strong><\/p>

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Mrs Samuel advises reviewing charitable giving at regular intervals, to assess how well it aligns with your financial plan and goals. You may find that your giving power changes from year to year. If so, you can adjust your \u201cbudget and giving strategy\u201d for the next year. It’s also a good policy to review the charities you support to see if their mission-critical priorities are meeting your expectations. An organization may have shifted its support to address different needs, elected new board members or modified its mission.<\/p>\n\n\n\n

Encourage others to join the circle of giving to multiply your impact<\/strong><\/p>

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Encouraging friends and family to join you in charitable giving will help increase your impact on the causes and organizations that you care most about and make a larger impact than you could individually. Mrs. Samuel\u2019s niece, US based attorney Delacy Jarvis-Thomas, recently donated 10 copies of Mirie\u2019s Magic Recipe: Loving, Leading, Legacy<\/strong> to the National Public Library and libraries at the All Saints and Irene B. Williams Secondary Schools, as well as private citizens.<\/p>\n\n\n\n

\u201cI am thankful for my niece\u2019s generosity. This is an excellent way to celebrate my 90th Birthday and I am honored to see my advice about generosity put into action. At this stage of my life I don’t need material gifts. I would prefer if donations are made to charities or prospective donors help distribute my book so that it can impact the lives of others,\u201d Mirie said.<\/p>

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Invest in others. You can\u2019t take your money with you<\/strong><\/p>

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Mirie posits that our legacy can extend beyond our lifetime when we give generously and impart wisdom, values, and habits of generosity to the next generation. She believes that experiencing joy through someone else can enrich one\u2019s life.  \u201cIf you can share in others\u2019 joy, it doubles the joy you experience. So give generously to others to have a more significant impact on their lives\u201d she said.<\/p>\n\n\n\n

Generous people are happier. <\/strong><\/p>\n\n\n\n

<\/a>People who hold tightly to money with an iron grip often find themselves friendless and alone.  Money doesn\u2019t give you morals, it just magnifies the morality you already have.  If you\u2019re a selfish hoarder with little, you\u2019ll be a miser with millions.  If you\u2019re generous when you\u2019re broke, you\u2019ll be a philanthropist when you\u2019re wealthy. \u201cIt\u2019s no accident that \u201cmiser\u201d and \u201cmiserable\u201d come from the same root word,\u201d Mirie said.<\/h2>\n\n\n\n

<\/a>Financial tips for advancing generosity<\/strong><\/h2>\n\n\n\n

1. Get out of debt!! <\/strong><\/p>\n\n\n\n

Broke people cannot fund community programs, or mission trips, or donate big money to disaster relief efforts.  You must make debt elimination a priority if you want to be consistently generous with your money. <\/p>\n\n\n\n

2. Make giving a priority in your budget<\/strong>. <\/p>\n\n\n\n

John D. Rockefeller, America\u2019s first billionaire, said \u201cI never would have been able to tithe the first million dollars I ever made if I had not tithed my first salary, which was $1.50 per week.\u201d <\/p>\n\n\n\n

Tithing faithfully every month is critical regardless of your income.  Set up our budget to have 10% come off the top for your tithe (giving to our church), set aside a monthly amount for debt reduction, then create a budget on what is left.   Building a budget in this manner will make giving and saving a priority.<\/p>\n\n\n\n

\u201cIt is rare to find someone who can live on 100% of their income but genuinely can\u2019t make some sacrifices to live on 90% of their income,\u201d Mirie says.<\/p>\n\n\n\n

3. Teach the next generation about generosity<\/strong>. <\/p>\n\n\n\n

It is key that we emphasize the relationship between generosity and wealth to help educate the next generation. \u201cI embarked on a \u201c90 Days of Kindness\u201d campaign in the countdown to my 90th birthday to highlight the importance of giving. Additionally, as part of the celebration, I gifted 90 friends and family members with a EC $2 note autographed by Sir Vivian Richards. This gesture was my way of emphasizing community giving and generosity as a part of my legacy,\u201d Mirie stated.<\/p>\n\n\n\n

Miriam Samuel believes that while building wealth is a noble ambition, it shouldn\u2019t be an end in itself.  Rather, it should be the means to ensure that generosity is part of the long-term financial plan. She encourages individuals and businesses to find ways to give their time, talent, and treasures to others, as a way to inspire kindness and improve financial and mental wellness.<\/p>\n

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Financial legacy transcends one’s lifetime and influences the lives of generations that follow. It requires careful planning to determine how money and assets are to be used and the areas where contributions can have the greatest impact. Seniorpreneur and new author, Miriam Samuel recently celebrated her 90th birthday and is determined to impact her community […]<\/p>\n","protected":false},"author":3,"featured_media":202576,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[],"class_list":["post-202575","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"yoast_head":"\nMake Generosity Part of Your Financial Legacy - Antigua News Room<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/antiguanewsroom.com\/make-generosity-part-of-your-financial-legacy\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Make Generosity Part of Your Financial Legacy\" \/>\n<meta property=\"og:description\" content=\"Financial legacy transcends one’s lifetime and influences the lives of generations that follow. 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