3 Ways to Become a Philanthropist
Philanthropy is a powerful way to make a positive impact on society. It is an act of giving back to the community by providing financial and other forms of assistance for charitable purposes. Becoming a philanthropist involves taking responsibility to help those in need and requires dedication and commitment to make a difference in people’s lives. In this article, we will discuss 3 ways you can become a successful philanthropist.
Financial Philanthropy
Financial philanthropy is one of the most popular ways of giving back to society. It allows individuals and organizations to make a difference in the lives of those less fortunate through monetary donations. Financial philanthropy can take many forms, such as grants, donations, or investments. From donating to charities to setting up scholarship funds, there are countless ways you can become a philanthropist and make a lasting impact on people’s lives.
Impact Investing
Impact investing allows individuals and organizations to make investments in companies or funds that have a positive social or environmental impact. By doing this, you can help create jobs, improve education, reduce poverty, and more. Not only do you get the satisfaction of helping others, but you also get the potential for financial returns on your investments.
Donor-Advised Funds
A donor-advised fund allows you to make donations to charities and other non-profits without having to go through the hassle of researching each individual organization. You can set up a fund with any amount of money, and then use it as a vehicle for charitable giving. The funds are managed by financial institutions that invest the money in order to generate returns that can be used for future donations. This makes it easy for you to give back without having to worry about where the money is going or how it’s being used.
How Bloom Can Help You with Your Philanthropic Endeavors
Established in 1985, Bloom Investment Counsel, Inc. is a Toronto-based independent, privately-owned boutique investment management firm with experience in managing more than $2.5B in assets over the years.
Our customized dividend-paying investment portfolios can help you generate an additional stream of income for philanthropic purposes, if desired, while continuing to preserve and build wealth. With regular dividend payments, you would be able to use this income for philanthropic purposes such as charitable donations.
Get in touch with us to find out how we can help you fulfill your philanthropic endeavors. Call us at +1-416-861-9941 or email us at info@bloominvestmentcounsel.com to learn more.
This content is provided for general informational purposes only and does not constitute financial, investment, tax, legal or accounting advice nor does it constitute an offer or solicitation to buy or sell any securities referred to. Individual circumstances and current events are critical to sound investment planning; anyone wishing to act on this content should consult with his or her financial partner or advisor.