Recently I watched an interview on television with Bill and Melinda gates and it prompted me to do a little reading.
Here’s what I have concluded.
I don’t really know what the Gates’s personal politics are and I don’t care. They believe that every life has equal value…and they’re doing something about it.
What I do care about is what they state as their fundamental belief: that every life has equal value. I care about their commitment to people and their aggressive efforts to reach across our country and across the globe to attack health and education challenges with such a serious and well developed approach. I appreciate their ability to do so much good with what they have.
And for anyone who wants to criticize that part of the American dream – that of financial success – those who want to demonize the rich, I would propose this, what I am trying to teach my own son, among many other important things:
Just as with school – the reward of good grades is lots of options. The better you perform, the more options in life you have. It’s the same with money. The more one has, the more options one has to good with it. There will always be those who don’t have it, can’t get it, don’t believe it, are jealous of it, are suspicious of it, and so on.
Always. But for those who are capable, work hard enough and smart enough, and who are oriented well enough toward being other-centered and seeing that they are just a part of this world for a time – and have a very special and unique position of ability and vision to see and act on needs around them, they can do good with what they have. Lots of good. And by and large – they do.
But it’s not just a thing for the rich. Sure, their money is bigger and can therefore be leveraged far beyond what most of us can do; big numbers do amazing things, sort of along the same vein as compounding interest. The power of compounding is significant. Huge wheels can start turning under that kind of power. But the other side of that equation, the side that the rest of us can – and ought – to relate to is budgeting. And that’s about personal economies of scale. Percentages do not change, just raw numbers. Really, it doesn’t matter so much how much money you have, or how much you get, what matters is how you handle it. What you do with it. The fact of our personal responsibilities remains, regardless of the scale.
We’re talking percentages now. And we’re talking personal responsibility. We’re talking prudent and conservative planning, and by the way, my personal recommendation for a conservative and other-centered lifestyle, especially in the financial arena. Recall the New Testament story of the woman who gladly gave her last penny. The point was made that she gave more than anyone else.
So now you see, we’re back to, from a reasonable perspective, percentages.
Manage your money – and so your priorities well, and you can do what needs to be done. For your family and for the other things you believe you need to do – and I am now speaking of giving. It is important here to step back and remember that you cannot save the world. Jesus told us the poor will always be here. They just will. And along with them, the irresponsible and the stupid; the foolish and the weak-minded. Always. Such is the world; such is life. But we’d better remember we each have to potential to be that very person. At least I do. So by the way, be nice, and be forgiving.
We can do something. So you arrange your financial life well, and decide that you will give something – whatever – of what you take in. That’s your business. Give to your church, your synagogue, your mosque, or the Red Cross, or a local agency that helps indigent women in your city, or children living in desperation and squalor in Africa, or South America or India, or Eastern Kentucky. Whatever. Your small, almost immeasurable part. Do something.
And by the way, why, after all? You have to decide that for yourself. The Bible is chock full of reasons. Every community on the planet shows obvious reasons everyday – every time you leave your house. And remember, once again – you can’t save the world. But most of us can do something. It’s just a matter of:
Are you going to get your own personal financial house in order, for the sake of your family?
Are you going to budget, plan, save for the future; for your retirement, for your kid’s college, so that when you’re 63 you don’t have to worry or keep working far beyond the age you had hoped?
Are you going to look beyond your own home and consider what if anything you can or ought to do? Are you going to plan for financial freedom? Plan for options and choices?
And what drives you? Why do you do what you do? What is important to you? What are your hopes? Plans? What do you believe in? What do you believe is important?
Do you believe you have any responsibility to anyone or anything beyond yourself? What are you going to do about it?
Sure, if I had 40 billion dollars, my decisions would be easier…maybe. And my number of options would be huge. I would have the greatest range of choices. And that’s the point. Options. Virtually no one has anywhere near that kind of money. So for those that do, let them worry about their own dilemmas. You can’t take theirs on, and you wouldn’t want to. You be responsible for yourself. You resolve your own issues, and organize your own life. Don’t worry about anybody else. Get your act together, in all areas. And that includes your finances.
So we’re going to talk about percentages again, but it’s a pretty simple discussion.
If Bill and Melinda Gates give ten percent of what they make (and we don’t know what they make; we just know that they have a net worth of about $40 Billion). The answer is $4 Billion. The impact that can have on any given effort is significant to say the least.
And look what they’re doing: the invention of vaccines, combating malaria, HIV, researching the development of drought resistant-bug-resistant seed corn, even fighting diarrhea. They may or may not be into systems theory, but they’re definitely into systems improvement. They’re trying to develop permanent clean, safe water systems world-wide. They’re figuring out how to reduce the infant mortality rate in impoverished places, in all places, which involves studying and coming to understand customs and cultures, let alone medical system, facilities, and funding. And they’re doing it all around the world. World-wide they give to libraries and in a broad sense, to improve access to information. In our country they’re giving to improve education for high schools everywhere. They believe so much of the direction in our country begins in the public schools. The power and potential within those walls are huge. Read their website with great attention. The questions they ask and the suppositions they go into an effort with are simple and direct. They want to find solutions and they want to fix things for the long haul.
They want to do well.
Notice in this previous paragraph money, in any amount was not discussed. That’s because such concerns, such responsibilities are not relegated only to the rich. They’re relegated to humanity, to neighbors, to everyone who can. We’ve probably already agreed some can’t, and certainly some won’t. So what? Such is life. But many if not most can – and thankfully, will. So let’s do our parts. Don’t be selfish; be otherish. What’s your 10%? Or whatever your number. What is it? Don’t tell anyone, just decide. And act. Be quiet about it. But set a good example for your family, especially your children, if it applies.
Start with your own personal budget, and plan, by percentage, what you’re going to do with your money. Get organized and be smart. Prioritize and be responsible. Get assistance if you need to. Go slowly and be wise about it. Seek wisdom somewhere if you need to. My personal advice is to live a financially conservative lifestyle and save, save, save. And read – and listen to – The Millionaire Next Door, by Thomas J. Stanley, Ph.D (http://www.thomasjstanley.com/) and William D. Danko, Ph.D (http://www.albany.edu/~danko/) (1996, Longstreet Press). It’s not a perfect book; none is. But it’s serious and not hype. (By contrast and by personal experience I would never recommend anyone read – or listen to – any books by the Rich Dad, Poor Dad guy. In my opinion he’s shallow and simple. The contrast and what I see as conflict between the two philosophies – and life values – are striking. Stick with The Millionaire Next Door.
You might find that this book too subscribes to a selfish financial philosophy. I will concede that. The authors emphasize a perspective in those they interviewed, and so to a fair extent subscribe to the “I am my own favorite charity” philosophy. But look at it this way: It’s like the instructions we get from the airline attendants when embarking on a commercial flight. You are to place the oxygen mask over your own face first – before that of even your children. In order to be of any use to anyone else, you must first be equipped; prepared. You can be noble and all-self sacrificing, but then, arguably, you’re done. One shot deal. And besides, when I recommend this book, I do not necessarily recommend the author’s philosophy in total. I prefer to be measured in all things if I can (not that I am so good at it….). There will always be a time to give, and a time to save; a time to sacrifice and a time to circle the wagons, draw in and preserve. So, as with any advice, take it with a grain of salt and apply it carefully. And consider your own life situation; don’t let anyone else decide for you. “…a wise man listens to advice.” (Proverbs 12:15) – But a wise man also makes the decisions he himself is responsible to make.
And just to show you I want to be even-minded about the whole selfish-selfless thing, I have spent some time reading at “Money Help for Christians”: http://www.moneyhelpforchristians.com/bad-money-choice/ and might encourage readers to do the same. And here’s a test: Those of you who do not subscribe to the Biblical or Christian view – you go there and see if you don’t find real wisdom. Let me know.
All this is to simply to say Get Serious.
As I alluded, I recommend listening to the book. Long commutes like mine are especially conducive to this. Check out the CD-based unabridged version from your local library or buy it if you need to, but get it. Read it and/or listen to it several times, over several years, too. There are probably a lot of good books out there, but this is the one I would recommend to my son (he’s only 10 right now, so I need to settle down).
You don’t want to get old and be stressed. Getting old will probably be tough enough. We don’t need to be worried about money on top of that.
And don’t forget to spend about thirty minutes at The Bill and Melinda Gates Foundation website: http://www.gatesfoundation.org
Wonderful Mike.
I recommend that you also check out Dave Ramsey’s Financial Peace University. It may be a little to heavy on the Christianity for some, but he gives good practical steps on establishing Financial peace within your home.
Some only go there to get out of debt, because his debt free living is his biggest sell. But there are chapters on budgeting, planning and deciding what to do next when looking at your own financial picture… He does NOT leave out the giving part, I find that he puts that right in perspective too. He also has programs for our kids to learn from too.
Deanna