The True Purpose of Earning, Saving, and Investing

Financial freedom means having enough money saved to get your through hard times. It means having protection for yourself and your family. Just as important, financial freedom means having the ability to do some real good in the world.

Many people say that the purpose of accumulating wealth and financial freedom is to be able to buy a nicer house, go on luxury vacations, or retire early. Those are great goals, but anyone fortunate enough to accumulate wealth should strive to do more than just improve their own standard of living. Think of the millions around the world living in extreme poverty or facing other insurmountable challenges, people who don't have the opportunity to earn a good income, much less invest some of what they earn. Being in a position to give, to act charitably, to help people in need, is not only a responsibility, it is a gift.

“The purpose of human life is to serve, and to show compassion and the will to help others.” —Albert Schweitzer; philosopher, physician and Nobel Peace Prize winner

First, Strive for Financial Freedom

Personal financial freedom is the first goal of investing. Earning, saving, and investing creates a safety net. This safety net is a shield against the unpredictability of life. This safety net can support you in the event of an emergency like a job loss, medical crisis, expensive home or car repairs. Financial stability also allows you the flexibility to make career decisions based on what you are passionate about. Gaining some level of financial freedom should be the first goal of earning, saving and investing because once you have financial freedom for yourself, then you are in position to help others.

“The test of our progress is not whether we add more to the abundance of those who have much; it is whether we provide enough for those who have too little.” —Franklin D. Roosevelt; 32nd President of the United States of America

Next, Philanthropy

The most profound consequence of financial success is the ability to involve yourself in philanthropy. Philanthropy is dedicating your time, money, or resources for the public good. Financial freedom liberates your time, allowing you to dedicate more of yourself to mission-driven work, volunteer for causes you are passionate about, or even create a non-profit. Involving yourself in philanthropy can do lots of good for lots of people and leave a long lasting impact on your community and the world. Personally, my investing goal is to one day become a philanthropist and do as much good for others as I am able.

“The greatness of a community is most accurately measured by the compassionate actions of its members.” —Coretta Scott King; civil rights leader and author

The Power of Giving

The dedication to earning, saving, and investing can often me misinterpreted as an act of selfishness. But by gaining financial freedom, you are creating opportunities for yourself to contribute to causes that do good for your community and the world. As you invest, keep in mind that giving is not just a responsibility, it is a gift. Remember, every contribution to a worthy cause and every act of service, no matter how small, makes a difference.

“If you can’t feed a hundred people, then feed just one.” —St. Teresa of Calcutta; founder of the Missionaries of Charity and Nobel Peace Prize winner