Invest In Your Life 016 // What Motivates Generosity? - Part 1
This time of year, many people begin to reflect on the concepts of giving and generosity. In a conversation between Sam and Wealthquest President David Kern, they delve into the significance of generosity. They also explore the distinction between 'generosity' and 'giving back', emphasizing that generosity is characterized by intention and thoughtfulness.
Additionally, they touch upon the idea of activating one's "generosity circuit breakers." These encompass the contrasts between being fortunate and self-made, feeling gratitude versus entitlement, and adopting an abundance versus scarcity mindset. Research indicates a robust correlation between generosity and overall life satisfaction. Notably, Wealthquest exemplifies generosity for its employees and aids clients in strengthening their capacity for generosity.
Episode Highlights:
[02:51] Generosity is seeking to enhance the lives of others and lift their burdens. The two main ingredients of generosity are action and attitude.
[03:29] The key ingredient of generosity is the heart behind the action. Generosity really takes off when people emotionally step in.
[04:48] We talk about giving back versus generosity. There's more satisfaction with true generosity.
[06:59] Generosity is intentional, thoughtful, and truly seeking to benefit the life of someone else.
[07:33] Because of the comprehensive service we provide at Wealthquest, we can see if a client is charitably minded. We have a lot of conversations about generosity with our clients, and we also help them be charitable in better ways.
[09:04] It's okay to give and benefit from giving.
[09:50] Generosity circuit breakers need to be flipped to the on position. The three common generosity circuit breakers include fortunate versus self-made, gratitude versus entitlement, and abundance versus scarcity mindset.
[13:47] We love it when we can show clients where they have room for charity and see them start exercising those muscles.
[14:28] One of the things centered around the Wealthquest social contract is generosity. When we model generosity to our staff, they will in turn be generous when they go out into the world.
[15:15] We want to be generous with our benefits. We also have half day Fridays, so our employees can spend time with their families.
[16:33] There's a strong correlation between generosity and overall satisfaction in life.
[17:52] Practical ways to be generous. What tugs at your heartstrings? Start giving back a little ways.
[19:20] Open up an abundance fund. This is a separate account that you contribute to in order to be generous.
[21:24] David models generosity for his kids in a way that they can see it.
Certified Financial Planner Board of Standards, Inc. (CFP Board) owns the CFP® certification mark, the CERTIFIED FINANCIAL PLANNER™ certification mark, and the CFP® certification mark (with plaque design) logo in the United States, which it authorizes use of by individuals who successfully complete CFP Board's initial and ongoing certification requirements.
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