By Dr. David Yeh, Edward Foundation Board Member
Why is it that one person who has little can be happy and feel financially secure, whereas someone else who has achieved all her financial goals still feels as if she does not have enough?
It is difficult to be truly wealthy without the mindset of wealth. It makes no sense to accumulate an abundance of resources yet still feel powerless and poor. Fear of not having enough grows from a scarcity mindset, a feeling of not having or being enough. However, the act of giving starts a mindset change.
Rather than fear of not enough, there is now gratitude for the feeling of abundance that comes with giving. Rather than feeling closed down from fear, there is now openness to receive the gratitude from those touched by our generosity, a sense of connection to the recipients and the community, a feeling of privilege to be able to help. The secret to living truly is giving. Paradoxically, we feel more grateful and abundant when we give.
There are many reasons why we donate. Generosity to the less fortunate, contributing to something bigger than ourselves, satisfaction of making an impact on our community in ways that align with our values, these are all deep and personal reasons. There is an underlying feeling of gratitude that we get from giving.
When I discovered the secret of gratitude, not only did it help me become financially successful enough to semi-retire from medicine, it inspired me to teach this to my clients now that I am an investment advisor. Ultimately, the quality of our lives is directly proportional to the quality of our emotions.
Information contained herein was accurate at the time of posting. The information on this website is not intended as legal or tax advice. For such advice, please consult an attorney or tax advisor. Figures cited in any examples are for illustrative purposes only. References to tax rates include federal taxes only and are subject to change. State law may further impact your individual results. California residents: Annuities are subject to regulation by the State of California. Payments under such agreements, however, are not protected or otherwise guaranteed by any government agency or the California Life and Health Insurance Guarantee Association. Oklahoma residents: A charitable gift annuity is not regulated by the Oklahoma Insurance Department and is not protected by a guaranty association affiliated with the Oklahoma Insurance Department. South Dakota residents: Charitable gift annuities are not regulated by and are not under the jurisdiction of the South Dakota Division of Insurance.