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Neal Frankle
Neal Frankle
Want More Than 100 Percent ROI?

Try this charitable-giving idea.

May 21, 2009
by Neal Frankle, CFP

I'm not going to write an article that tells you the tax benefits of charitable giving. You are the CPA — not me. You know more about the financial benefits better of charitable giving than I do.

I want to address the issue of charity from a different perspective — the idea of giving for the sake of giving. That, I believe, is the ultimate payoff. I believe it's a timely issue because many people are less inclined to give right now. Our financial and emotional resources have been diminished.

But being charitable doesn't have to cost you or your clients a penny — and the rewards far outstrip the costs.

Here's the How …

Bob Burg is a guy who turned the concept of "being charitable towards others" into an industry. He teaches people how to help others and enrich themselves at the same time. It's a global win-win.

You may know Bob. He co-wrote The Go Giver, which is an international bestseller that illustrates this theme. (If you haven't read this book, I highly recommend it.)

I bring this up to you because "service to others" is the single most important tool you have to enjoying a wealthy life. It is also the most charitable thing you can do for others because it is the gift that money can't buy.

Bob's concept is simple: If you help others with no expectation of reward, your life will be fuller and richer.

I saw this in action at a workshop he (and his business partner Thom Scott) hosted a few weeks ago in Orlando. Even though over 250 people were there, Burg and Scott made each participant feel special and appreciated. What do you think the result was?

Well, it was the closest thing to a "love-in" I've ever seen. Everyone was infected by this giving mindset. We couldn't do enough for Burg and Scott — or for each other.

Napoleon Hill also wrote about the power of being of service in his landmark, Think and Grow Rich. Published in 1937, Hill interviewed Andrew Carnegie, Thomas Edison, Henry Ford and other millionaires to determine what the secret of their success was. Can you guess their most powerful "secret?"

They simply tried to give other people what they wanted before looking for personal gain.

That's it.

How Can You Apply This Idea?

Let's try an experiment. Really do this.

  1. For the next 10 days, pick at least one person each day.
  2. If you don't already know, find out what is important to that person and do something to help them get what they want. Send them an article. Get them a book. Talk to them. Whatever it is … just doing something for that person that will help them get what they really value in life. You can do this without spending any money or much time.
  3. Pick a different person on the next day and repeat step 2.

Share what happens. I am convinced that the results will astound you. The most important benefit will be that you will feel like a billionaire — guaranteed. I don't know why this happens but it will. You'll feel like the universe is giving you a group hug all day long. In addition, you'll see people around you start behaving in a similar way.

As a result, people will bend over backwards to be helpful to you — and others.

Conclusion

Being of service to others is the best way to have a completely full and rich life — and the price tag is right. Be intentional over the next 10 days. I'd love to hear your results.

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Neal Frankle, CFP, is the author of Why Smart People Lose a Fortune: 5 Steps to Restoring Your Wealth and Sanity. If you would like to receive updates on other topics of interest, please register for my free e-mail newsletter here.

The material in this article is general information and not meant to provide specific investment, tax or legal advice. Investing in the stock market involves risk.