Giving not Getting

In their later years, more and more people are finding purpose and happiness in what they can give away.

With the help of a grant from the Gates foundation,  Michael Schervish who runs the Center on Wealth and Philanthropy at Boston College is studying the very wealthy to see what motivates them to give away money.

Watching the Rich Give

Once they feel financially secure, the very rich turn to philanthropy.

Philanthropy, he explained, draws people into the kind of direct caring relationships they experience in family life — and extends that caring outward. “This is my basic definition of philanthropy — it’s paying attention and responding to the needs of others precisely because that person is in need,” he said. Anyone can do that, rich or poor. But when the very wealthy do it, according to Schervish, it creates not just ripples but powerful tides.