What Are You Grateful For? How Your Experiences Can Shape Your Charitable Giving

November is National Gratitude Month in the United States, offering an opportunity to reflect on the things we are most grateful for. We often associate gratitude with appreciating what we have today, but it can also mean recognizing the people, experiences, and opportunities that have helped shape who we are now.

As National Philanthropy Day approaches on November 15, we invite you to reflect on the people and organizations that have made a meaningful difference in your life. These reflections may also inspire you to consider how you can make a difference in the lives of others.

This year, take a moment to look back at what has shaped your life, consider the causes that matter most to you, and explore how you can turn that gratitude into meaningful action.

Looking Back: What Helped Shape Your Life?

The experiences that shape our lives can also influence the causes we choose to support. Whether it’s giving back to an institution that once helped you, supporting an organization addressing a challenge you’ve experienced, or contributing to a cause that reflects your personal values, charitable giving can be a way to make a difference in the lives of others.

As you look back, think about the people, places, and experiences that have had a meaningful impact on your life. Perhaps an educational opportunity opened a door for you, someone offered support during a difficult time, or a particular experience changed your perspective. These moments can help you identify where you may want to make a difference for someone else

Looking Around: What Matters Most to You Today?

As you move through different stages of life, your charitable priorities and ability to give may change as well. The experiences you have and the perspectives you gain along the way can influence which causes feel most meaningful to you. For example, a family member’s illness may inspire you to support medical research or disease prevention efforts. Other times, broader societal issues may influence your perspective on the world you want to leave behind for your children and grandchildren.

As you reflect on the issues and causes that matter most to you, consider the organizations working to make a difference in those areas. These may be local nonprofits serving your community or national and international organizations addressing challenges you’ve experienced, creating opportunities you’ve benefited from, or advancing causes that reflect your values.

Before getting involved, take time to research these organizations to better understand their mission, how they use contributions, and the impact of their work. Resources such as Charity Navigator and CharityWatch can help you evaluate organizations you’re considering supporting. If you’re planning to make a financial contribution, you may also want to verify the organization’s tax-exempt status and eligibility to receive tax-deductible donations through the IRS.

Looking Forward: What Impact Do You Want to Leave Behind?

Many of us contemplate the impact we want to leave behind after we’re no longer here. While this often involves considering how our assets will be distributed through an estate plan, it can also mean thinking about the values, experiences, and opportunities we want to pass along to future generations.

The answer to what you want your legacy to look like is deeply personal. For some, it may mean introducing children or grandchildren to philanthropy and establishing family traditions around giving. For others, it may involve leaving a portion of their wealth to organizations they care about through charitable bequests, trusts, or other planned giving arrangements. It could also be a combination of both.

As you think about the legacy you want to leave, consider the following questions:

• What opportunities would you like to help create for others?
• Are there causes you hope your family will continue supporting?
• How would you like your children or grandchildren to think about giving?
• What do you hope your generosity will accomplish beyond your lifetime?

Your answers to these questions can serve as a starting point for conversations about your estate plan and the legacy you want to leave behind. While charitable giving can offer tax benefits, your reasons for giving may go far beyond financial considerations. By reflecting on the people, experiences, and causes that have shaped your life, you can begin to identify how you want your wealth to make a difference for others. Working with your financial advisor and estate planning attorney can help you explore ways to incorporate those charitable intentions into your estate plan while accounting for your family’s needs and other financial priorities.

Turning Reflection into a Financial Plan

Once you’ve identified the causes and organizations that matter most to you, the next step is considering how you want to support them. There are several approaches to charitable giving, and the right one for you will depend on your financial circumstances, charitable goals, and the type of impact you want to make.

For some, this may mean making direct contributions to a public charity through cash donations or non-cash gifts, such as real estate, artwork, or other assets. Others may want to explore more tax-efficient approaches, such as donating appreciated securities or making a qualified charitable distribution (QCD) directly from an IRA, if eligible.

There are also ways to structure your giving over time through donor-advised funds (DAFs), private foundations or charitable trusts, including charitable remainder trusts (CRTs). Depending on your circumstances, strategies such as bunching charitable contributions or taking advantage of employer matching programs may also help you be more intentional about how and when you give.

With so many options available, it’s important to consider how your charitable intentions fit alongside your other financial priorities. Your financial advisor can help you evaluate which approaches may make sense for you, whether you’re looking for potential tax benefits, planning for a long-term charitable legacy, or exploring ways to give beyond cash contributions.

This gratitude season, consider scheduling a conversation with your advisor about your charitable giving goals. The reflections you’ve made on the people, experiences, and causes that have shaped your life can serve as a starting point for developing a giving strategy that reflects what matters most to you.