What good could YOU (or I) do?

August 5, 2010 · 5 comments

It’s perhaps a small idea…however, it can have an enormous impact.

Picture a financial advisor, asking those he serves to commit to making contributions to charitable organizations a part of their wealth plan…

I learned about this approach from Jim Mayer, a Merrill Lynch professional in Belleville, Illinois. He was kind enough to ask me to address a meeting of his clients and some of the non-profit organizations they assist.

And, while I hope they learned from and enjoyed the content I delivered, I was absolutely blown away by what Jim had to say when he started the meeting.

His clients and friends last year contributed over a HALF MILLION dollars to charities along the Illinois/Missouri border. Consider this fact — United Way in Belleville raised about about 1.5 million…this ONE dedicated, amazing professional has created a source of contributions in his community that’s a third of the entire United Way campaign…and he says he’s only just begun.

As he addressed the group, Jim openly committed his goal is to deliver as much money to worthy non-profit organizations in his community as United Way.

I would bet the farm he will do it!

Jim has a goal…but, he also has a commitment. If you want a wealth advisor, but won’t contribute to a worthy charity…Jim’s probably not the person for you. As stated in “Collapse of Distinction,” it’s vital to have Clarity about who you are — and Jim Mayer has it in spades.

He’s an inspiration.

And, he also should move us all to ask an important question: “What greater good could I do…if I was truly clear about my commitments…and passionate about their achievement?”

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  • Jmo

    Scott: Along the same line, I saw a report on last night's news about an effort led by Warren Buffett and Bill Gates to ask/pressure/cajole their fellow billionaires into giving half of their net worth to charity. The sound bite was Buffett saying he and Gates went through the Forbes (or Fortune?) billionaires list, identifying 70-80 that they knew personally, splitting up the list and personally calling each of them with a “soft sell.” They eeked pledges out of about half of their target audience. Jim is in good company!

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  • http://scottmckain.com Scott McKain

    That’s absolutely fantastic!

    And, you illuminate a couple of points very clearly — first, “birds of a feather” right? How many billionaires do I know? I think the answer is approximately “zero.” Yet, those two know (from your comment) EIGHTY! What that should tell are these two things — first…no matter who you are…WORK YOUR LIST! If even billionaires get on the phone and work theirs, who are we to say we can’t do it that way?

    Second…many old time speakers used to say your income is the average of that of your five closest friends. So…to upgrade your life, maybe you should consider upgrading your associations.

    Thanks for adding to the conversation!

    Scott

  • http://twitter.com/TrainingTsar John T Curran

    I saw a follow-up item on the web. Forty of the 70-80 people have signed The Giving Pledge, promising to donate at least half their wealth before their departure, or as part of their estate plans. According to a biography of Andrew Carnegie, one of his greatest frustrations at the end of his life was his inability to give away his wealth quicker than he could earn interest on the vast sums he had accumulated. To that end various foundations were established to accelerate the process. Institutions, such as Carnegie Mellon University and the Carnegie Foundation for the Advancement of Teaching are still in existence.

  • http://www.McKainViewpoint.com Scott McKain

    Great points! Jim Rohn always told a story of Carnegie — his goal was that he would amass a fortune in the first half of his life, then spend the second half giving it all away. And, while there are certainly accounts of a negative side of Mr. Carnegie, the great work continuing to this day because of one man's funding of worthy projects should be extolled as an example for all of significance and means.

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