How do you contribute to your community and society?
I have found that among its other benefits, giving liberates the soul of the giver. - Maya Angelou
As high net-worth individuals we have access to tremendous amounts of money.
More often than not our fortune is so great that we couldn’t spend it all in one lifetime without running out until we die… even if we tried really hard.
So this issue is about giving back to society; either selflessly, or with certain benefits attached to it.
What you have missed in “Wheels-up Wednesday”
DIY: How do you measure🥇 your progress and celebrate your 🎉achievements?🙌 - Learn to measure your progress, and how NOT to celebrate your achievements
How I make Your 😍 Life Perfect 🤩 - A detailed view my life coaching toolbox… the 72 Hour Retreat & The Full Spectrum Life Analysis
I give You: Eternal Life - A new perspective on enjoying your wealth for eternity
The Luxury of The Perfect Family - Family values and Personal Consequences
Luxury Life, for a Lifetime - A life coach should be there for you in every phase of your life; even the final one.
Liar! Self-deception, and approaches to relieve yourself of it
“Ouch” to “Awesome” - how replacing a word can change your life
Suprapurpose - finding a purpose in life, which doesn’t cease to drive you when achieved
均衡 - The Luxury of Personal Balance - Balance everywhere :)
Only-fans foot-models and influencers need life coaching, too - how “new money” differs from “old money”.
Making you wealthier than God - A quote from my first Principal ever
Why/How to detach your identity from anything material - When achieved, nothing can be taken from you - you become fearless
This week, on the 72 Hour Retreat, I was with a now-Principal who was very concerned about giving back to society.
(Download “72 Hour Retreat” now: https://tr.ee/HRsgpgVRm5 )
They had been blinded by Musk’s mars-project, the core of which is to populate another planet in case we get… well, blown up or something.
Yes, justifiably there are concerns attached to it, and Elon isn’t undertaking this endeavour out of the goodness of his heart.
That’s the reason why in this issue, we’re going to take apart the reasons for giving back to society in ways which are better than blowing your money on insane, yet justifiable projects.
Ego
Ego aside, why do you want to give back to society?
Now, I’m not the person to splash my wealth into people’s faces. In fact, one Principal even said I’d carry the look of people like Steve Bannon.
(“Steve Bannon on the Future of Europe” by Elekes Andor)
Until today I’m not quite sure I should take this as a compliment.
Naturally, I don’t need to donate hospital wings with my name on it in order to sooth my ego.
However, I do understand, and accept, that there are those who want to have their contributions accredited to them.
Why/How to detach your identity from anything material
The late stand-up comic, George Carlin, ever so eloquently rephrased a very famous quote by the author, Dave Ramsey. From my experience of running a coach practice for over 20 years I noticed that this is particularly true for the young principals I worked with.
My personal approach towards wealth is more around the article I mentioned above.
When I was still active with my corporate, and entrepreneurial endeavours, I’d spend extended periods of time in the Middle East, and Asia, where it was a pain in the neck to get a hold of good razors. If you could, you’d be in the next country and try to get a hold of blades that fit your “old” model from the previous country.
Being the time-manager I was finally fed up at one point, and would instruct my drivers to take me to a barber to get my shave every 3-4 days.
All of them, particularly in the Middle East, would use a straight razor, which caught my attention.
A short while later I was in a city called Solingen, in Germany, known to produce some of the most advanced steels used in knives.
I found a GORGEOUS straight razor there out of Damascus steel, which set me back quite a lot of money.
For me, wealth is intimate, and since this piece or art is - like so many others I own - never going to be seen by a lot of people, I thought it was a worth while investment.
How I make Your 😍 Life Perfect 🤩
On any normal Wheels-up Wednesday I normally reference the infamous 72 Hour Retreat because this is my travel day back to one of my homes. The 72 Hour Retreat is the onboarding session I conduct with every potential Principal. Probably because I mention it so frequently, I get asked quite often what the 72 Hour Retreat is, beside associated questions li…
I mentioned this example to my Principal during the Full Spectrum Life Analysis (see above link) we conducted, and this made them re-think their way of giving back.
Intimate, and Quiet vs. Splashy, and Loud
As soon as I’d mentioned this, we got into a conversation about whether or not giving back to society should be intimate, and quiet, or splashy, and loud.
My Principal kept citing the Musk example, which I countered with my personal approach.
We did end up agreeing to disagree, yet it made me think about the pros, and cons of both approaches.
You see, if you take a normal donation to whichever charitable cause comes to your mind you’ll reap the tax benefits whether your face is in the newspaper or the cause’s accreditation wall, or not.
What you have to consider is that your name is going to be mentioned in public.
And while this may be beneficial to your ego, please always take into consideration that this may carry certain security risks, some of which I mentioned in the article below.
The Luxury of being able to protect Yourself, and Your Family from unforeseen circumstances
I think it’s safe to say that these times are unprecedented in most of our lifetimes. With the enormous amount of investment opportunities associated with volatile markets come similarly enormous risks. Over the past 5 years I’ve witnessed an influx of Principals worrying about the growing global uncertainty in the results of the Full Spectrum Life Anal…
Again, the quiet, and intimate type is just me… let me give you another example…
I was attending a dog-show together with a friend, which was looking to purchase a dog to feel more secure in their house.
A little outside of the venue was a charity demonstrating loudly about animal cruelty, and that dog breeding was unnecessary, and making the lives of the animals unbearable.
I took the time to talk to the protestors, and found their arguments rather compelling.
Personally, I own “mutts”, or rescued dogs, as they’re called, and from my experience they end up sick much less frequently that pure-breds.
More importantly though, they’re often much easier trained, naturally well behaved, loyal, and much better socialised… probably because they have to be with other dogs in a pack
At the end of the day all dogs make you feel safer.
If someone decides to break into your home it doesn’t matter if you have a chihuahua, or a Rottweiler. The barking deters almost any intruder.
Most importantly though, their barking will wake you, and give you the 30 seconds to open the gun cabinet, or initiate any other kind of self-defence.
So I already knew most of the arguments they were giving me, and the way they were standing up for those arguments made me visit them a few days later at their gorgeously maintained rescue-station.
I ended up donating USD $100k insisting that my name not be mentioned, and merely against a receipt.
For Mankind
Elon isn’t alone in his rocket-aspirations.
A high proportion of high net-worth individuals are thrill seekers.
Whether it be rockets like Bezos, Branson, etc. or fast cars, and action sports… The thrill-seeker is installed in most of us.
Then there are those who combine their thrill with mankind’s advancement, like Musk with his spacefaring aspirations.
I may be argued in this context that we have more pressing issues here on earth, which would be more beneficial to fix than colonising mars, for instance.
Yet that’s up to your personal preferences entirely.
Conclusion
As I mentioned in the introduction: You are successful, and have made exorbitant amounts of money. So it’s technically up to you how you spend it.
Whether you chose to splurge it, or dedicate parts of your wealth to causes, which entice you… just make sure that you, and your personal ideology benefit most, and chose wisely as to not hurt anyone in the process of giving back.
Do your due diligence carefully on the causes you want to support.
As high net-worth individuals we are on the radar of a lot of people who’d like to take advantage of us… hence the reason for me to keep so quiet about my wealth, and my causes… and you should always keep that in mind when you’re dedicating resources to anything.
Can you take your ego out of the equation? Great!
If you’d like to, and have trouble doing so, please feel free to reach out now, and I’ll help you understand the benefits of giving “quietly, and intimately”.
My Best
Laurent Regardez
The UHNWI Coach
uhnwicoach@protonmail.com
Further information: https://linktr.ee/uhnwi
60 Second Bio: https://about.me/uhnwi
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