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4 steps to giving sustainably and living a life of purpose
4 steps to giving sustainably and living a life of purpose
Staff writer
Posted 06/12/2023 Updated 12/12/2023 3 mins
Make a positive difference for a cause you care about, with expert help.
How can you make a difference?
As we approach the end of the year and the start of another, it’s a good time to reflect on how we can live a life of purpose and make a meaningful impact on society. The truth is that we can give in many ways, such as our time, money, resources, or expertise. In this article, we present 4 practical steps to help you embark on a purposeful journey, drawing insights from the expertise of our Nedbank Private Wealth philanthropy office.
Step 1: Reflect on your passions and values.
Living a purposeful life begins with introspection. Take a moment to reflect on your passions and values. What causes are you passionate about? What issues do you care deeply about? This is the foundation of your giving journey.
With input from our philanthropy specialists, your wealth manager will encourage you to explore these emotions and provide personalised guidance to help you define your philanthropic objectives.
Step 2: Craft your unique giving strategy.
It’s now time to craft a giving strategy that aligns with your values. Consider your expertise. Where do your skills and knowledge lie? Do you want to give of your time, expertise, resources and/or finances?
How we can help:
- We have the expertise and financial know-how to enable you to realise your giving aspirations, either during or after your lifetime.
- We will also help you understand and explore different giving vehicles, such as charitable trusts, to helping you crystallise your giving strategy. This step is about turning your aspirations into a tangible plan for impactful and sustainable giving.
- We can help you explore the avenues and choices you have for sustainable, responsible and effective giving that aligns with your values.
Step 3: Consider how much you should give and how often.
Do you want to give a lump sum and/or regular smaller amounts? Is your giving strategy sustainable?
How we can help:
- Our wealth managers will give you personalised advice about managing your finances and wealth in a way that supports your giving goals over the longer term. They can help you assess your financial capacity to determine how much you can afford to give.
- They can also help you with a legal structure (like a charitable trust) through which you can give effect to your financial giving?
- Regular small but consistent giving can also make a difference. This enables non-profit organisations to plan their operational and financial strategies to have best ongoing positive impact.
- Your wealth manger will help you create an appropriate investment strategy to achieve your giving aspirations. They will pay attention to your investment timeframe, risk tolerance and income requirements (to meet distribution requirements), as well as tax consequences. They will advise you on the best ways to implement this strategy from an investment solutions perspective.
- We have a team of selected investment managers who will manage your investments in way that will help ensure the long-term sustainability of your giving and the positive impact it will have on your selected cause.
Step 4: Use our expertise, insights and services to ensure your giving is sustainable.
What other expertise do you need to manage the legal structure?
How we can help:
- Nedgroup Trust offers corporate trustee services and financial accounting and tax services.
- Meet grant makers who will source and approve beneficiary organisations and manage post-donation evaluations and reporting.
Take the time to think about the long term.
When you partner with us, you have peace of mind that our philanthropy offering combines expertise, sustainability, and a genuine commitment to make a lasting impact. Together, we can create a brighter future for the cause that you care about.
Want to know more? Here’s what to do:
Read the below articles to learn more about our philanthropy advice and services.
- The value of advice about philanthropic giving
- The value of expert advice about philanthropic giving
- Make philanthropy an integral part of your life
- The Giving Report V
- Our philanthropy offering
Contact your wealth manager. Or, If you’re not a client yet and want to find out more about how we can help you, we would love to hear from you. Contact us on 0800 111 263 or complete an online contact form.
Disclaimer This information is for general information purposes only and is not legal advice.