Episode 109: Incorporating Giving Into Your Retirement Plan with Arlene Cogen

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Today’s Smart Money Question:

So much of our focus during retirement planning is saving money to protect ourselves and provide for our family, but there’s such a great opportunity to improve our lives even more by giving to others. Not only does it benefit others but it also brings happiness to our lives. Arlene Cogen, a philanthropic leadership consultant and author, joins us to discuss this important topic.

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Here Are Just A Handful Of Things You’ll Learn:

How much do you think about charitable giving when working on your financial plan? Don’t feel bad if it’s not always a priority for you. We are all busy trying with our lives and it causes giving to get overlooked.

But we want to bring that back to the table on this episode of Smart Money Questions. We’ll do that with the help of Arlene Cogen, author of the book Give to Live: A Charitable Gift You Never Imagined. As a philanthropic leadership consultant, Arlene helps bring more fulfilment to clients’ lives by providing a fresh viewpoint on giving.

Did you know that there are studies that show giving to others actually brings you more happiness than spending money on yourself? It’s true, and it can really help improve your life. Not only that, but there are financial benefits to consider as well.

We’ll talk about all of that along with the different ways you can make charitable giving a part of your life and your plan. Whether you do it as an individual or as a family, there’s so much to gain from giving.

Check out the show and utilize the timestamps below to skip ahead to a specific topic in the show.

0:26 – Today we have a special guest on the show, Arlene Cogen.

1:21 – Arlene shares her background on how she got into Philanthropic Leadership

3:55 – She wrote the book ‘Give to Live’

5:19 – When people think about giving, many feel they can’t incorporate that into their retirement.

5:53 – The idea of giving while you’re living.

6:49 – There are studies that show philanthropy provides real joy to our lives.

10:16 – What are the strategies to consider if you want to give while you’re living?

12:18 – Advantages to having a charity listed as a beneficiary.

13:54 – Some states have inheritance taxes.

14:40 – How to endow an annual gift.

17:18 – Understanding charitable trusts.

21:00 – Multi-generational gifting.

26:37 – Personal reflection is a part of her book and it’s something we should be doing.

29:16 – The purpose of our money.

30:02 – Wrapping up the conversation.

Resources discussed on this episode: 

Spending Money on Others Promotes Happiness

Watch Michael Norton’s Ted Talk

Additional Podcast Episodes:

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