With Christmas quickly approaching, many could be tempted to believe it is too late to give this year. Barbara Gulin, president and owner of BG Wealth Advisory in Mission, Kansas, wants to encourage others that while the window is closing, the opportunity still exists to be generous in 2025. Whether giving finances, time or energy, the key is to be intentional.
BG Wealth Advisory offers opportunities throughout the year to give back – Toys for Tots in November and a school supply drive in the summer. Both of these causes are near to Barb’s heart and stem from her intention to give back to her community. Learn more about how you can get involved by visiting: bgwealthmanagement.com/
From your perspective, what does it mean to be generous?
I have always operated from a perspective that we are blessed to be a blessing. To me, money is a tool. Having a big pile of it, or hoarding it so that you can look at the pile, probably doesn't bring a whole lot of joy.
Especially this year, a lot of giving has throttled back, and people are feeling the pinch with inflation. When we have the financial means to donate or the physical means to donate our time, all of that is really at the heart of what I think it means to be a good human.
What are some ways people can incorporate generosity into their financial plan?
A lot of our clients choose to take advantage of qualified charitable donations out of their IRA accounts. Once you reach the age where you have to take required minimum distributions, if you don't need the money, you can use the QCD option to send that money directly to a charity. The advantage to the client is that they're not paying taxes on it because it's a charitable donation, but the charity that receives it also greatly benefits because it's a cash donation.
A lot of it begins with the end in mind and deciding what you want your legacy to be. You can designate a charity as a beneficiary for your accounts. I have a lot of clients who don't have children or who don't have any living heirs who choose to do that, so they know they will be passing it along and paying it forward in the future.
When did you start collecting Toys for Tots donations? Why?
This is our second year. I've always wanted to do it. We finally found a way to make that happen with an office that was easily accessible so people could participate. We've worked with federal employees, training them on their benefits for the last 13 or 14 years. Military employees don't make a lot of money, especially those enlisted. What I like about it is you’re donating a new, unwrapped toy, and the parent who needs a little help has an opportunity to approach this with some dignity.
Why is it important for you to have an active role in the community?
Children are the innocents in all of this. In the summer, we always do the school supply drive for elementary school kids. These kids are products of their circumstances, not of their decisions. In the future, we are probably going to be a food donation collection site for another charity in town. I have always had a dream to be able to consistently provide help. That is where my heart is.
Describe the joy you personally experience through giving back.
It's really hard to put into words. It’s an emotional response to me, and I'm humbled to be a part of a community that gives back. It means a lot to me to have the resources to be generous.
To me, money is a tool. Having a big pile of it, or hoarding it so that you can look at the pile, probably doesn't bring a whole lot of joy.