If you’ve been around Vizionary for any period of time, you’re likely well aware of the place generosity holds in our core values. We’ve been on the receiving end, and we wholeheartedly believe in the power of growing as givers.
That said, we need to talk about the hard part of generosity–particularly among those who are high earners. We meet a lot of wealthy families that want to be more generous, but they find themselves burned out. Today, let me share a few thoughts on why giving burnout happens and how we can get back to the joy of effective giving.
Where Giving Burnout Comes From
One example is a client of ours—they’re hometown folks who’ve really made it big. They run a family business that's now worth nine figures, spanning multiple generations. In the early days of our work together, the topic of charitable giving caused everyone to go stone-faced.
I didn’t quite understand why at first, but this family has been in business for four generations in a small town. They’re the most successful business around, and every local nonprofit within a 15-mile radius approaches them constantly, asking for support. It’s death by a thousand cuts, and their willingness to give has been worn down over time. It takes hard work to reverse this weary posture.
You end up with a long list of hesitations around giving:
- Is this a deserving cause?
- Will this organization utilize the funds as advertised?
- Am I giving to something that’s actually producing a verifiable impact?
- Does my relationship with this person depend on me giving financially?
It usually comes down to the giver's belief that the giving is worth it–that and a lack of entitlement on the asker's part.
One personal note–the only place I hear these questions more than charitable giving is with the kids of clients. This is equally applicable there.
Reactive vs. Proactive Giving
This would be a depressing thought if we ended there. Mae and I have personally had to do the hard work of putting the joy and passion back into our giving. We’ve wrestled many times with each of the questions above in our journey.
Here’s what we have found, and it has helped us push back the fog of giving burnout: Generosity needs to be proactive more than reactive.
This doesn’t mean we can’t give spontaneously–we should. Instead, it means that if the majority of our giving is solicited, we are prone to losing sight of the passions and relationships that drive fruitful giving.
Here are a few ways that you can establish a proactive, rewarding relationship with generosity.
Giving to Passion Areas
While not all giving needs to be passion driven, I do find that I am a far more effective donor when I’m personally bought in on the problem, the people, and the prospects for change. I give more joyfully. I am all in on giving, but it’s because I’m all in on the need that’s being met. Where are there parts of your story that stir you to action when you see them in someone else?
Monitor (or Participate in) the Impact
Another aspect of a proactive approach is finding ways to witness or participate in the impact of your giving. Visiting projects, meeting recipients, or staying updated with a cause’s progress can foster a deeper sense of connection and satisfaction. Better yet, do this with your kids and grandkids. You’ll both catch the vision that sustains healthy generosity.
Surround Yourself with Values-Aligned Peers
Surround yourself with advisors or peers who share similar values can provide encouragement and perspective. (I’m not just suggesting this because we’re an advisor… but also, sure!)
For Mae and I, there are a few groups that we have joined where we are small fish, both in net worth and in giving. I can’t tell you how inspired and accountable these kinds of communities make me. Those who are generous but lonely often don’t stay generous for long.
Envizioning More Impact
As we frame everything through the lens of Envizioning More, how can we help you Envizion More impact? What would it look like to drive your top line wealth building so that you can be more and more generous? Who would you support? Who would you invest in? Your kids? Your community? Your faith?
We hope that being a part of the Vizionary community enables you to Envizion More around what’s possible for your legacy.