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Generosity and Charitable Giving with Jeffrey Wallace

RL120 - Generosity and Charitable Giving with Jeffrey Wallace

Today on the Retirement Lifestyle Show, Roshan Loungani, Erik Olson, and Adrian Nicholson talk to Jeff Wallace, the Vice President and Relationship Manager for National Christian Foundation, a non-profit organization that assists donors in donating to charitable causes. They talk about the benefits of charitable giving, how donor-advised funds operate, and how generosity can lead to real happiness in life.

[01:50] Getting to Know Jeff Wallace

[05:50] Living an Impact-Led Life

[07:40] The Relationship Between Generosity and Happiness

[10:19] How to Be More Intentional with Your Generosity

[16:45] What is a Charitable Checking Account?

[18:39] Jeff's Background and How Generosity Has Impacted His Life

[24:35] The Benefits of Raising a Family that Understands Charitable Giving

[31:20] Building Generous Communities

[34:10] How Charitable Giving Positively Impacts Your Taxes

[36:39] Donor-advised Funds and How They Operate

[39:51] Why You Never Want to Donate Cash to a Charity

[45:45] Why Real Estate Is Such a Powerful Charitable Gift

[50:04] Pros and Cons of Setting Up a Private Foundation

[55:41] Key Differences Between a Charity and a Business

[01:05:40] When to Start Investing in a Donor Advised Fund

[01:10:09] Parting Thoughts

For more links and the full show notes keep scrolling down!

Roshan Loungani can be reached at or at 202-536-4468.

Erik Olson can be reached at or 815-940-4652.

Adrian Nicholson can be reached at or at 703-915-8905.

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Full Show Notes:

How Generosity Can Improve Your Life

We all want to be happy. And while everybody's definition of happiness is different, there's one thing that can make everybody happy: generous giving. Numerous studies have shown how generosity accelerates the free flow of positivity in a person's life. Generous giving and showing kindness have also been proven to have health benefits other than just making us feel warm and fuzzy inside. For example, studies show that people who consistently give experience reduced blood pressure, improved mood, and reduced stress.

According to Jack, generosity makes people live a more meaningful life. He explains that you don't need to be rich to show kindness. Just be a little generous, and you'll notice a big difference in how you live your life. Remember, people who act solely out of self-interest are more likely to be unhappy. But the mere promise to be more generous is enough to trigger a positive response in our brains that makes us happier.

How Charitable Giving Can Impact Your Taxes

As earlier mentioned, donating money, goods, or time to your favorite charity is a great way to help the less fortunate in society. But did you know that charitable giving can positively impact your taxes and save you money? If you donate money to charity, you can report this when filing your taxes and potentially receive a tax deduction.

However, if you want to gain the most from charitable giving, consider donating your best-performing stocks or real estate instead of writing a cheque. This allows you to avoid the tax from a sold investment and claim charitable contributions on your tax returns. Moreover, charities don't pay any tax on the gain of the sale of stock because they get exemptions from the government. It doesn't matter the type of charitable giving you prefer; there will always be a potential tax benefit on the other side of the curve.

Links and Resources:

Jeff's Email:

All opinions expressed by podcast hosts and guests are solely their own. While based on information that they believe is reliable, neither Arete Wealth nor its affiliates warrant its completeness or accuracy, nor do their opinions reflect the opinion of Arete Wealth. This podcast is for general informational purposes only, and should not be regarded as specific advice or recommendations for any individual. Before making any decisions, consult a professional.

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