Jun 23 2010
New twi$t on tithing
Pre-Ramble: You can’t swing a bag of gold bullion around here without having some top-tier philanthropist knocking at the door and imploring you to give away half of your wealth. The July 5th cover of fortuitously named Fortune Magazine features the smiling faces of billionaires Warren Buffett and Bill and Melinda Gates along with a plug for the “$600 Billion Challenge.“
Brainchild of legendary Berkshire Hathaway money-magnet Buffett, the Challenge invites the nation’s billionaires “to pledge to give at least half of their net worth to charity, in their lifetimes or at death.” Names like Eli Broad and David Rockefeller are on the ask list along with media moguls Ted Turner, Michael Bloomberg and Oprah Winfrey. Between the assets of these folks plus the other 395+ super-rich Americans (a la Forbes 400) … we’ve got the potential for quite the pot of cash, … sums the likes of which would “change the face of philanthropy as we know it.”
Long and the short of it. The thinking behind the scheme is laudable. Buffett explains that while he has not yet made a commitment of time, which he feels is ultimately far more valuable than money, his contribution of Berkshire Hathaway stock certificates “ … can command far-ranging resources [which can] benefit others who, through the luck of the draw, have received the short straws in life. “
The obvious thought here is, if you’ve got $1 billion, half-a-billion is probably going to be sufficient to pay the bills and have enough left over to have some fun. So, where exactly is the line between the fortunes conferred by long straws and the lot of the fortune-challenged short straws set? Where is the tipping point between having enough to live on and experiencing a true sense of need?
Mortgage payments … From a personal standpoint, I guess I never really thought about my net worth in terms of “wealth.” Sure, I feel plenty fortunate, blessed even, with the rich and varied lifestyle that my money allows, but I never really considered it “drive-me-across-the-estate-to-the-polo-ponies” kind of wealth. When I think of vast amounts of disposable wealth, I imagine those closets you’d see on Lifestyles of the Rich and Famous … the ones with thousands of shoes all perfectly lined up on racks. My shoe inventory will fit at the foot of the bed with room to spare. I’m just sayin.
The challenge then, in the lifestyles of those of us who are not so rich and famous, is vastly more confounding — Just how much is enough? How much of your “personal wealth” could you realistically consider parting with? What amount of your earnings is really just gravy? For those of you on the less charitably-inclined end of the continuum, how little can you get away with giving away without looking or feeling cheap, greedy or heartless?
The Take-Away: I don’t have an answer for any of those questions … and I don’t have $1 billion to test the theories. For what it’s worth, the prose of the philanthropic pledge itself offers Warren Buffett’s humble and generous rationale,
The reaction of my family and me to our extraordinary good fortune is not guilt, but rather gratitude. Were we to use more than 1% of my claim checks on ourselves, neither our happiness nor our well-being would be enhanced. In contrast, that remaining 99% can have a huge effect on the health and welfare of others. That reality sets an obvious course for me and my family: Keep all we can conceivably need and distribute the rest to society, for its needs. My pledge starts us down that course.”
Pre-Ramble: There is a lot of buzz and quite a few books out there that promote the value of “branding” yourself as a way to attract recognition and business. I just don’t know about that. As a dedicated “intuitive thinker” who delights in the pursuit of random stuff, the idea of nailing myself down to a single focus is more than a little scary.
Pre-Ramble: In another place in time that missive might have been directed at a carefree young child while strolling through a sunny pond-side park somewhere. But actually, it was me chastising myself for kicking what I realized too late was not a small round rock in the center of our driveway.
Pre-Ramble: If there are two things that deserve our attention as we head into 2010, it’s neuroscience and cake mix. I’m talking about recent scientific breakthroughs as they relate to middle-aged mind power and the astounding news that General Mills’ Betty Crocker has 50,000 fans on Facebook.
Pre-Ramble: Every couple of days or so, I come across a piece of writing that is so poetic, insightful and clever that I wish I had written it.
Pre-Ramble: Look out! As of yesterday afternoon, I am the proud owner and captain of my very own iPhone 3GS. That’s right, mild-mannered, tech-challenged me is packing “the fastest most powerful iPhone yet”… … featuring up to 32 gigabytes of storage, voice control, video recording, cut and paste functions, and a bunch of other cool stuff that I don’t even understand.
Pre-Ramble: So, the miracles of modern marketing strategy aren’t always as miraculous – or as accurate — as we might hope. I’m thinking that perhaps our class action fears around stuff like Homeland Security, Big Brother, Google, and tracking cookies are unfounded.
Pre-Ramble: One of my favorite friends is a jewelry designer. She has her own little business — if you can call that work. She gets to play with rare and sparkly gemstones all day. She has a brown leather briefcase that she carries around and it’s filled with all kinds of exquisite stuff.
Pre-Ramble: Hi, it’s me, Daisy – I’ll be your esteemed guest-blogger for today. Actually, Mom begged me to write the blog because she was all in a panic since it was Monday morning and the blog muse hadn’t kicked in yet. I could tell by the way she was whining and clawing at the refrigerator that things were going to be coming my way. (She always sticks me with the blog when she doesn’t know what to write about.)
Pre-Ramble: Yell the word “bacon” in a crowded room, and conversation will hush — half of the people will turn with a look of recogition that says, “you are one of us” – the other half will look askance as though you’ve just committed some foul breech of personal etiquette. I will venture to say that beyond a mere culinary preference, an affinity for bacon represents a lifestyle choice.