THE NEW "BIG" RESPONSIBILITY
- by Anonymous
Hello again! This article of contemplation of gifting comes to you now as we near the RV of the IQD Currency.
Lately I have been thinking a lot about gifting some of this new good fortune and blessing away. Perhaps that has been on your mind more also?
It occurs to me that on the surface this gifting idea and the idea of "random acts of kindness" can have a much larger and deeper impact than you and I have perhaps thought about before. Honestly, I've never had too much disposable income to freely give away that would seriously impact other people's lives! So, I'm a novice at this, maybe you are too?
SO WHAT'S THERE TO WORRY ABOUT?
I'm thinking of people I can easily gift one, two or maybe even more 25K IQD Notes to. As we know, after the RV these one or two 25K IQD notes will be a very substantial amount of money to this person! I want to give this money to them, but should I do it anonymously or should I let them know it was me?
AN ACT OF DESTRUCTION?
Sometimes I really wonder if the action of giving a person some of this money is a destructive act instead of a blessing? I'm worried that I may be changing this person's "destiny" or "God's will" or call it what you will according to your belief system.
There are stories of people faced with winning the lottery, and lost it in various ways, and then committed suicide! Just because they could not handle the stress of the money! This unfortunately will happen to many of us Dinarians, especially the ones out there that are not fortunate enough to have found a great resource like what is offered here at the IQD Team.
THE SPOUSE MAY HAVE OTHER IDEAS...
There are people of the opposite gender that I want to give money to, some of these people my spouse would approve of, however there are others that my spouse would probably be pretty mad at me for giving them any money, let alone tens of thousands of dollars! Do you risk your marriage and the love of your spouse just to commit a random act of kindness? These questions and scenarios need to be carefully thought out now, in advance, while you and I still have time to think!
DANGER - ITS A LOT OF MONEY
Have you noticed how much people on TV Reality Shows are affected by a "small" amount of money? Ever notice how excited a winner on a TV Game Show gets when they win $5 or $10 thousand dollars or even some bigger prizes of just $50 or $100 thousand dollars? They are jumpin' up and down and screaming and hollering with excitement! This is what people will do when we gift them money! It will make us feel good inside, but it may also put us and our family in to DANGER!
But, that person just got a wad of cash from us, they would never HURT us!!! Maybe not directly, but they will feel compelled to talk about you and your act of kindness to other people, other people who have not received any money..... See the potential problem?! Those other people will want money too! NOW DO YOU SEE THE PROBLEM?
Furthermore, you must think about the impact that giving a large sum of money to a person will do to them! If they don't handle the money correctly, they could end up having serious problems, like if they fail to pay their Taxes on the money! Even though it was their fault not paying the Government Taxes, they will blame you - most people never want to take responsibility for their own actions. Taxes is just one serious consideration, there are may others to think about too before you just go out and hand someone a large sum of cash!
KILLING THE GOLDEN GOOSE
We must remember the children's story growing up about the Golden Goose and how it laid a golden egg every day. But, later this was not good enough for the Farmer and he grew more impatient with the goose, and he started thinking crazy thoughts about getting inside of that goose to get all of the eggs at once, instead of waiting for a new egg each day! You remember this story don't you, he killed his golden goose, found no gold eggs inside and was left with nothing!
Your RV cash out IS YOUR GOLDEN GOOSE - don't "kill" her by trying to get all the eggs at once! With a large cash amount, that can be invested properly in interest bearing accounts which are higher than the average rate of inflation (aprox 4% annually is the rate of Inflation in the US).
DISCLAIMER: Before I continue, I'm NOT giving you "investment advice" I am pointing out ideas for you to take with you to a Financial Investment Professional.
Back to our golden goose - your cash is your golden goose! Using just simple numbers I am going to show you that with an extra $1,000,000.00 USD (after paying taxes etc) is used for "giving away" after the RV! This is the money you are setting aside to give away to charity, people, etc.
Instead of splitting this up 10 or 20 ways and giving to only 10 or 20 people, single one-time gifts, think about this: Setting up your own Charity, fund it with the $1M in cash, have that cash invested in safe Mutual Funds that have a long track record of successfully averaging high returns (i.e. 10%+).
This new Charity fund of yours (keeping it simple) can now earn an annual $100K / year interest on the $1M invested. There will be taxes to pay, and a portion should be kept to add to the principle. But, lets say for a simple example this leaves you with $50K / year to give away as scholarships and to worthy people and your favorite charitable causes! You could do to this for the rest of your life, not just one time to just 10 or 20 people! It is something to think about, right?!
I may expand on this topic later, or you can even urge the IQD Team Mods to host a Call Pre/Post that will cover this topic along with other related topics. However, for now, I only wanted to spark the fire, and let it grow within you. Think about it, think about the long-term affects, not just the short-term gratitude of the situation.
I will be contemplating this also, trying to figure out if over-riding my huge ego to be recognized as a "great" person is more important to the safety and security of myself and my family! It just may be better to commit these acts of kindness as "random acts of kindness" and never let that person know who it came from!