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Three Natural Steps For Teaching Children The "Gift Of Giving"
12-21-2003 - Cleveland, OH - With Christmas coming, parents are once again besieged with guilt. They know they should stop spoiling their kids and put a lid on greed and selfishness. But how? Fewer gifts? Tighter budget? Bread and water for dinner? According to one wealth management expert, the best gift for any child of any age is giving the "gift of giving."
Richard D. Tanner, co-author of "Giving...Philanthropy for Everyone," a question and answer reference book and resource for making charitable contributions, is an authority on wealth management and philanthropy. He advises wealthy parents on aligning heart issues, priorities and passions with their financial plan - on paper and in the home:
- Limiting the dollar amount for traditional gifts
- Family discussion to determine a charity for donating "excess" money
- Gifting money with stipulations that it go to the recipient's charity of choices, along with a report back to the family explaining their choice.
"Instead of asking for more stuff that many of us don't need, teach children how to "self-direct" a sum of money to a charity they care deeply about. Young Americans don't save for the same reason they don't give: selfishness. They're still in accumulation/conservation mode and are not solid in their awareness of their own mortality, personal beliefs, ideals, and preferences. It's not until they reach their 40's and beyond that they begin to save and give from their principles."
Tanner recommends the ACT method for teaching children to give:
A - Acclimate
From an early age introduce your children to money through your own family financial and buying situations: smart grocery shopping, coupons, sales, banking, checking accounts, purchase of household items, and purchase of large items like a home or vehicle.
C - Communicate
Communication is more than simply telling kids information. Listen to their questions about wealth, money and the responsibility of helping others who have less.
T - Train
Training your children involves a lot of creative strategies that need to be customized for each family's lifestyle, values, activities, passions. Giving kids an allowance lets them develop a budget for themselves, using a stipend for clothing, entertainment and a charitable contribution they can direct themselves.
Richard Tanner is a proponent of values-based financial planning. President and Founder of Ownership Advisors, Inc. in Cleveland, he endorses a unique method for interviewing, videotaping and documenting family values as a springboard to a successful, peaceful financial plan. His "Family Wealth Letter of Intent" is a living legacy that represents why you work, who and what you value, what causes you hold dear, and what you want your legacy to look like. He is an authority on the use of Employee Stock Ownerships (ESOPs) in family held companies, and has written and lectured extensively on subjects related to charitable legacies as an emotionally satisfying alternative to letting the government disperse one's funds upon death.
Contact:
Richard Tanner
President
Ownership Advisors, Inc.
6100 Oak Tree Blvd., South
Park Center Plaza 1, Ste. 420
Independence, Ohio 44131
Phone: 216-328-5538
E-mail: rtanner@ownershipadvisors.com
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