A Conversation Every Family Should Have: Teaching the Next Generation About Philanthropy

My Philanthropic Start

My own philanthropic journey began long before I became a Wealth Advisor at TCI. When I was young, around this time of year, my family and I volunteered at Rawhide in Chandler, Arizona. We gave our time and served food to people experiencing homelessness during the Thanksgiving holiday.

That experience left a lasting impression on me. Their expressions of gratitude, the conversations we shared, and the opportunity to connect with people in a vulnerable moment were all early sparks in my philanthropic journey.

Inspired by those early moments, I continued to look for ways to give back. In high school, I volunteered more than 100 hours in hopes of earning a scholarship. I did not end up receiving it, and while the scholarship would certainly have helped with college expenses, the value I gained from that work was far greater than any financial award. Those hours taught me that even small acts of service can have an immense impact on the lives of others.

These early experiences shaped how I understand philanthropy today and how I encourage families to pass these values on to the next generation.

What “Philanthropy” Really Means for Families

When many people hear the word “philanthropy,” they picture large foundations, million dollar gifts, or buildings named after donors. But true philanthropy generosity, kindness, and improving the world around us is something any family can cultivate, regardless of income or age.

At its heart, philanthropy is simply the choice to use your time, talent, and treasure to support something bigger than yourself. And it can evolve throughout our lives. Here are a few examples of what giving can look like at different ages:

Philanthropy is not reserved for a certain level of wealth. It is a way of living out what matters most to you.

Start With Values, Not Dollars

The best philanthropic habits start with a simple question:

What matters most to us as a family?

Instead of leading with money, start by exploring your values. Values are the guiding beliefs that reflect what truly matters to you. For example, your family may care deeply about:

• Compassion and integrity

• Community and relationships

• Health and well being

• Education

• Nature and the environment

• Helping vulnerable populations

You can ask reflection questions together, such as:

• What issues tug at your heart?

• Who helped us along the way, and why does that matter?

• What change do we want to see in our community?

A values first approach encourages kids to speak up and ensures that everyone participates, not just the adults.

Share the Story of Your Family’s Giving

Giving is not only a habit, it is a story that becomes part of a family’s identity.

Children and teens benefit immensely from hearing the “why” behind the giving choices of parents, grandparents, and other relatives. Stories like:

• The first time you volunteered

• A teacher or mentor who supported you

• A cause that personally affected your family

• A moment when you realized the power of helping others

These stories help younger generations understand that philanthropy is not a transaction. It is an expression of who we are and what we stand for.

In my own family, when I used to pick up my nephew from second grade during the summer, we would take a short walk home together. I always packed a few water bottles and encouraged him to give one to whoever he felt needed it most. Every time, he chose the crossing guard, and it brought a smile to both of our faces.

Small moments like this create memories that shape how children see generosity.

Make Giving a Family Tradition

During my recent work to earn the Chartered Advisor in Philanthropy CAP designation, I learned many ways families can turn giving into a meaningful and consistent tradition. Even one simple tradition can build a strong foundation.

A few ideas to consider:

• Annual Giving Night: Each family member chooses a cause and explains why they chose it.

• Holiday or Birthday Giving: Children select a charity to receive part of their gift budget.

• Volunteer Outings: Serve meals together, participate in community clean ups, or support local nonprofits as a family.

• Matching Gifts: Parents match a child’s contribution dollar for dollar to reinforce the impact of their giving.

These small, intentional moments create lifelong habits and help kids see that generosity is a normal and joyful part of life.

Teach the “How” of Smart Giving

As kids grow older, it is helpful to show them how thoughtful giving works.

Families can discuss topics such as:

• What makes a nonprofit trustworthy and effective

• Why recurring donations help organizations plan better

• How donating appreciated stock can eliminate capital gains tax

• Why some families use a donor advised fund to simplify and organize their gifting

You do not need to be technical. Focus on the idea that effective giving is aligned with your values and thoughtfully executed.

Your TCI Wealth Advisor can also help you explore your own philanthropic plan, think through tax wise giving strategies, and involve the next generation in a way that fits your family.

Start the Conversation Today

You do not need a private foundation, a tax strategy, or a major gift commitment to begin.

This week, try sitting down for five minutes as a family and asking:

If we could help one cause this year, what would it be, and why?

This single conversation can begin a lifelong family tradition, shape your children’s worldview, and create a legacy of generosity that lasts far beyond money alone.

If you would like to explore how philanthropy fits into your financial plan, your TCI Wealth Advisor is here to help you start that conversation.