Mercedes Wilson spoke with Zach Gildehaus, senior analyst, client needs research at Edward Jones. He shares that despite economic challenges most Americans intend to donate a similar amount to charity this year.
What were people’s motivation for donating to a charity? Some people said was, they wanted to make an impact on their community. People said they give to the same charities every year and others said they give to charities based on a recommendation from a friend or family member.
When aske what are some unexpected or nontraditional ways of giving, Zach says giving of your time or talents. He goes on to say that it helps you to connect to the organization’s charitable mission and it puts you on the front line and lets you see the great work that they are doing, up close and personal.
A financial advisor can help you make a strategic plan when it comes to charitable giving. Zach says, “Our study found that most Americans don’t feel very comfortable, or they don’t really understand how charitable giving can potentially impact my financial picture. They also told us I’m not familiar or very comfortable with the different vehicles or strategies that may be available to me, so I think a financial advisor can help close that information gap, help you feel more informed and also bring some intentionality into your charitable giving. In fact those that do work with a financial advisor told us they feel more excited and successful in their charitable giving which are pretty good adjectives.”
For more information go to edwardjones.com/charitable-giving
