You Can't Take It With You, and You Don't Want to Spoil the Kids

This week the second wealthiest man in the world, Warren Buffett, decided to team up with the wealthiest man in the world, Bill Gates to give away his fortune. Two things caught my attention in an interview about this about this:

1. Those that are given the wisdom and blessing of managing this kind of wealth need to look at the bigger picture.

"I always had the idea that philanthropy was important today, but would be equally important in one year, ten years, 20 years, and the future generally.

And someone who was compounding money at a high rate, I thought, was the better party to be taking care of the philanthropy that was to be done 20 years out, while the people compounding at a lower rate should logically take care of the current philanthropy."

Not that his motives were all about others

"I was having fun - and still am having fun - doing what I do. And for a while I also thought in terms of control of Berkshire."
"So if I had engaged in significant philanthropy back then, I would have had to give away shares of Berkshire. I hadn't bought those to immediately give them away."

2. I was also struck by his lack of interest in leaving a dynasty for his children

"I still believe in the philosophy - FORTUNE quoted me saying this 20 years ago - that a very rich person should leave his kids enough to do anything but not enough to do nothing. [The FORTUNE article was "Should You Leave It All to the Children?" Sept. 29, 1986.]

I am a big proponent for Stewardship. As the Bishops of the United States laid out in a pastoral letter, stewardship is the response of a true disciple. It is a recognition that everything we have is from God, and in order to show our gratitude we offer a portion back to God. I have no idea if Mr. Buffett is a believer. I do know that he recognizes that he has been given a great deal of blessing, and in turn he now wishes to use this wealth for a greater good. If that is not God at work, I don't know what is. I don't necessarily agree with all of of the efforts of all of the foundations that will benefit from his donations, but I think it is a positive thing over all and a good example for others.

In his second letter to the Corinthians Paul lays out a plea for financial help (even back then they had money talks).

Our desire is not that others might be relieved while you are hard pressed, but that there might be equality. At the present time your plenty will supply what they need, so that in turn their plenty will supply what you need. Then there will be equality, as it is written: "He who gathered much did not have too much, and he who gathered little did not have too little."

Now I know most of us have not been given the financial blessing of Mr. Buffet and Mr. Gates, but most of us have been blessed with an income that provides for our needs and beyond. How have we shown our gratitude for that blessing? Have we given back an offering of our "first fruits" or do we give God our spare change?

May God bless you abundantly.