The last few funerals I attended, I was curious to find out as to how much wealth a person can take away with him to the next world. To my utter surprise mostly the people preferred to proceed empty handed. What about the wealth that was stashed in accounts and invested in stocks. It appears that all was left unattended at the mercy of the heirs.
This is a strange state of affairs. People do not like to cede control of precious things and their wealth in their life but they leave it all behind at the mercy of others , not knowing how this wealth will be used or plundered.
A different approach has been adopted by the rich and the super rich. They have refused to leave it to their heirs. Bill Gates and Warren Buffet have started the " Giving Pledge" Campaign. In their own words, "The idea of the Giving Pledge came from many great conversations that Bill and Melinda Gates and Warren Buffett had with philanthropists in the U.S. and abroad. With their ideas and input, this idea developed into the Giving Pledge."
Although this is an American Phenomenon as those making pledges are American Billionaires but the idea is worth sharing.
I read many of the pledge letters; the letter of Laura and John Arnold states: "We view our wealth in this light -- not as an end in itself, but as an instrument to effect positive and transformative change."
They have pledged half of their wealth to philanthropy and their foundation website talks about Transformational Change through philanthropy and not the Incremental Change.
Ted Turner is another billionaire amongst the many who pledged. In his letter he attributes this to his father who instilled in him the desire to contribute by giving scholarships to two African American Students. Ted has taken this modest contribution to new heights by pledging and spending over a billion dollars. While his letter says many interesting things but reference to his discussion with Jacques Cousteau ; where he asked him if he ever got discouraged or worried that the problems he was working on were insurmountable. The answer was, “Ted, it could be that these problems can’t be solved, but what can men of good conscience do but keep trying until the very end?”
Michael And Lori Milken talk about a few lessons that charity has taught them :
•Whether in education or medical research, early funding of promising young talent generates a lot more progress than handing out lifetime-achievement awards.
•Philanthropy is far more than just writing checks. It takes an entrepreneurial approach that seeks out best practices and empowers people to change the world.
•Follow your passion. We believe philanthropists should begin the process of giving by asking what they care about passionately. Intensely felt core beliefs provide the motivation to stick with a project through successful completion.
Without commenting any further on the points that have been reproduced above I would like to refer to the pledge of Warren Buffet.
Three things emerge from his letter;
One he values "time" as the most precious resource and feels that this can be donated to charitable causes. Though he feels that it would be a superior donation than writing cheques only. In his own words:
"Moreover, this pledge does not leave me contributing the most precious asset, which is time. Many people, including -- I'm proud to say -- my three children, give extensively of their own time and talents to help others. Gifts of this kind often prove far more valuable than money. A struggling child, befriended and nurtured by a caring mentor, receives a gift whose value far exceeds what can be bestowed by a check. My sister, Doris, extends significant person-to-person help daily. I've done little of this."
Second he talks about the asymmetry of contributions of various people in society and the relevant rewards.
To copy his words: "My luck was accentuated by my living in a market system that sometimes produces distorted results, though overall it serves our country well. I've worked in an economy that rewards someone who saves the lives of others on a battlefield with a medal, rewards a great teacher with thank-you notes from parents, but rewards those who can detect the mispricing of securities with sums reaching into the billions. In short, fate's distribution of long straws is wildly capricious."
Third the way he values possessions and their contribution in his life, may those be luxury planes or living houses. He takes them as means to achieve quality of life but does not see them as an end in themselves.
Material things do change the way we live but as he says: "Some material things make my life more enjoyable; many, however, would not. I like having an expensive private plane, but owning a half-dozen homes would be a burden. Too often, a vast collection of possessions ends up possessing its owner. The asset I most value, aside from health, is interesting, diverse, and long-standing friends."
As I read these pledges , I found them very interesting and thought provoking. I am moved by the thought of being able to help a struggling child by providing support and time; and being able to make a superior contribution than money itself.
I look back in life and see a lot of opportunities lost where I could have made a difference just by giving time and care to someone in need. But I think I can make a pledge; to contribute time, as much of it as I can to those who require it. I can make a pledge to contribute a good portion of my fortune to some noble causes. Only I have to remind myself that myself like most of us become lucky due to the asymmetry of information, reward system and market inefficiencies. If we share some of this good luck there is no harm in it and in most of the cases it will not change our circumstances.
I am reminded of one of my friend and associate Bakhtiar Hakeem, who contributes time in a number of ways. One of the activity is where he visits the Oncology Ward of a local hospital once in a month with a stalk of flower for each patients. He has told me stories how many patients break into tears with this little gesture of love and care. Many of them tell him about the wait that they have done to receive this one flower and what that means to them in that perpetual isolation; where there own kith and kin have passed on their responsibility to the doctors and nurses by paying the fee (writing the cheque).
His second activity is visiting few schools in a poor neighbourhood on a monthly basis, where he distributes prizes to the children who show progress and attain positions in their competitions of various academic and extra curricular activities. Normally the prize is a bag that the students can use to carry their books to the school.
Billionaires have made these pledges and many others like my friend Bakhtiar Hakeem, who are not billionaires are making even a superior contribution. I am willing to make these pledges. Do you want to wait till the last day or start making the resolve today??
This is a strange state of affairs. People do not like to cede control of precious things and their wealth in their life but they leave it all behind at the mercy of others , not knowing how this wealth will be used or plundered.
A different approach has been adopted by the rich and the super rich. They have refused to leave it to their heirs. Bill Gates and Warren Buffet have started the " Giving Pledge" Campaign. In their own words, "The idea of the Giving Pledge came from many great conversations that Bill and Melinda Gates and Warren Buffett had with philanthropists in the U.S. and abroad. With their ideas and input, this idea developed into the Giving Pledge."
Although this is an American Phenomenon as those making pledges are American Billionaires but the idea is worth sharing.
I read many of the pledge letters; the letter of Laura and John Arnold states: "We view our wealth in this light -- not as an end in itself, but as an instrument to effect positive and transformative change."
They have pledged half of their wealth to philanthropy and their foundation website talks about Transformational Change through philanthropy and not the Incremental Change.
Ted Turner is another billionaire amongst the many who pledged. In his letter he attributes this to his father who instilled in him the desire to contribute by giving scholarships to two African American Students. Ted has taken this modest contribution to new heights by pledging and spending over a billion dollars. While his letter says many interesting things but reference to his discussion with Jacques Cousteau ; where he asked him if he ever got discouraged or worried that the problems he was working on were insurmountable. The answer was, “Ted, it could be that these problems can’t be solved, but what can men of good conscience do but keep trying until the very end?”
Michael And Lori Milken talk about a few lessons that charity has taught them :
•Whether in education or medical research, early funding of promising young talent generates a lot more progress than handing out lifetime-achievement awards.
•Philanthropy is far more than just writing checks. It takes an entrepreneurial approach that seeks out best practices and empowers people to change the world.
•Follow your passion. We believe philanthropists should begin the process of giving by asking what they care about passionately. Intensely felt core beliefs provide the motivation to stick with a project through successful completion.
Without commenting any further on the points that have been reproduced above I would like to refer to the pledge of Warren Buffet.
Three things emerge from his letter;
One he values "time" as the most precious resource and feels that this can be donated to charitable causes. Though he feels that it would be a superior donation than writing cheques only. In his own words:
"Moreover, this pledge does not leave me contributing the most precious asset, which is time. Many people, including -- I'm proud to say -- my three children, give extensively of their own time and talents to help others. Gifts of this kind often prove far more valuable than money. A struggling child, befriended and nurtured by a caring mentor, receives a gift whose value far exceeds what can be bestowed by a check. My sister, Doris, extends significant person-to-person help daily. I've done little of this."
Second he talks about the asymmetry of contributions of various people in society and the relevant rewards.
To copy his words: "My luck was accentuated by my living in a market system that sometimes produces distorted results, though overall it serves our country well. I've worked in an economy that rewards someone who saves the lives of others on a battlefield with a medal, rewards a great teacher with thank-you notes from parents, but rewards those who can detect the mispricing of securities with sums reaching into the billions. In short, fate's distribution of long straws is wildly capricious."
Third the way he values possessions and their contribution in his life, may those be luxury planes or living houses. He takes them as means to achieve quality of life but does not see them as an end in themselves.
Material things do change the way we live but as he says: "Some material things make my life more enjoyable; many, however, would not. I like having an expensive private plane, but owning a half-dozen homes would be a burden. Too often, a vast collection of possessions ends up possessing its owner. The asset I most value, aside from health, is interesting, diverse, and long-standing friends."
As I read these pledges , I found them very interesting and thought provoking. I am moved by the thought of being able to help a struggling child by providing support and time; and being able to make a superior contribution than money itself.
I look back in life and see a lot of opportunities lost where I could have made a difference just by giving time and care to someone in need. But I think I can make a pledge; to contribute time, as much of it as I can to those who require it. I can make a pledge to contribute a good portion of my fortune to some noble causes. Only I have to remind myself that myself like most of us become lucky due to the asymmetry of information, reward system and market inefficiencies. If we share some of this good luck there is no harm in it and in most of the cases it will not change our circumstances.
I am reminded of one of my friend and associate Bakhtiar Hakeem, who contributes time in a number of ways. One of the activity is where he visits the Oncology Ward of a local hospital once in a month with a stalk of flower for each patients. He has told me stories how many patients break into tears with this little gesture of love and care. Many of them tell him about the wait that they have done to receive this one flower and what that means to them in that perpetual isolation; where there own kith and kin have passed on their responsibility to the doctors and nurses by paying the fee (writing the cheque).
His second activity is visiting few schools in a poor neighbourhood on a monthly basis, where he distributes prizes to the children who show progress and attain positions in their competitions of various academic and extra curricular activities. Normally the prize is a bag that the students can use to carry their books to the school.
Billionaires have made these pledges and many others like my friend Bakhtiar Hakeem, who are not billionaires are making even a superior contribution. I am willing to make these pledges. Do you want to wait till the last day or start making the resolve today??
Kashif bhai i never knew my name would be worth this place and reference. Any ways Allah bless you and may Allah bless the Abdul Mateen Ansari the soul of AMS.
ReplyDeleteYou have reinforced my resolve. I had already up-graded from around ninety patients to about 125 per month. I shall further increase. I assure you, and those patients, to be.