Photo of Eric R. Ebbert, CFP®, MBA, CEO Eric R. Ebbert, CFP®, MBA, CEO Feb 06, 2022

Contrary to what people may believe, philanthropy isn’t always about donating huge amounts of money. In fact, you don’t need to be a billionaire or millionaire to be a philanthropist. Philanthropy should be about taking the best approach toward supporting the causes or organizations that matter to you. According to The Corporation for National and Community Service, approximately 77 million Americans volunteer their time, talents and energy to make a difference.

However, choosing how, when and where to give can be a daunting task, especially for first-generation philanthropists, or those who feel that their priorities have changed. 

How can a financial planner help with my philanthropic endeavors?

If you are seeking ways to turn your philanthropic endeavors into reality, here are three ways a CERTIFIED FINANCIAL PLANNER™ professional can help:

  1. Aligning your financial goals with your values — While most people with a giving spirit want to see their efforts make the world a better place, most of them would also like to retire comfortably. Many people might feel as though they have to choose between the two. A financial planner can help you make these two goals align.
  2. Tax strategies — Your family, business and estate can all be affected by your philanthropy. If you are not paying close attention to tax laws, your giving may be affected. A financial planner will help you consider tax strategies that may help reduce income taxes and eliminate estate taxes.
  3. Establishing a foundation — You may wish to establish a foundation for your future philanthropic endeavors. A family foundation acts to preserve family wealth over generations, while a community foundation allows you to structure your gifts for the biggest impact. A financial planner can help you decide which option is the best choice for your future.

Talk to a ProVise CFP® professional about your philanthropic endeavors

At ProVise Management Group, our CERTIFIED FINANCIAL PLANNER™ professionals can get to know you and your current financial circumstances, goals, risk tolerance and personal values to help you develop a plan that works for you. We can also create a written plan for you at a fiduciary standard of care. All our written plans come with an unconditional money-back guarantee. If you are unhappy with your written plan, you can return it to us, and we will refund 

100% of the fee paid.

Are you ready to talk to a professional about your plans for giving in the future? Contact ProVise today to schedule a complimentary consultation.