Philanthropist Melinda French Gates recently made headlines when she announced she was formally stepping down from the Bill and Melinda Gates Foundation. Notably, it was reported by NBC News that she will retain “$12.5 billion that she plans to put toward her ongoing work supporting women and families.”
With (perhaps) a clearer path ahead and a resolve to be hyper-focused on her core areas of support, Gates’ announcement provides strong lessons for current and future philanthropists about the importance of having a plan, being willing to pivot and always aligning your vision with your funding abilities.
Sign up for Kiplinger’s Free E-Newsletters
Profit and prosper with the best of expert advice on investing, taxes, retirement, personal finance and more - straight to your e-mail.
Profit and prosper with the best of expert advice - straight to your e-mail.
Lesson #1: Always have a plan.
Lesson #2: Autonomy can be a superpower.
Lesson #3: Double down to effect the greatest change.
Related Content
To continue reading this article
please register for free
This is different from signing in to your print subscription
Why am I seeing this? Find out more here
-
Four Money Mistakes Even Good Grandparents Make With GrandkidsOf course you want to spoil your grandchildren. Who doesn't? You can do it in ways that won't teach them bad habits or set unrealistic expectations, though.
-
What to Consider When Starting or Buying a BusinessA business book author answers some key questions a budding entrepreneur might have before making the leap to small-business owner.
-
Four Money Mistakes Even Good Grandparents Make With Grandkids
Of course you want to spoil your grandchildren. Who doesn't? You can do it in ways that won't teach them bad habits or set unrealistic expectations, though.
-
What to Consider When Starting or Buying a Business
A business book author answers some key questions a budding entrepreneur might have before making the leap to small-business owner.
-
Should You or the Trust Pay a Trust's Income Taxes?Irrevocable trusts can be set up so that the trust maker no longer pays income taxes, and the taxes are instead paid by the trust. What are the pros and cons?
-
Developing a Charitable Giving Strategy: Where to BeginKnowing what to give, how to give and where to give can help ensure your charitable giving aligns with your values and maximizes your impact.
-
How to Score a Hole in One With Your Retirement PlanningThe easy swing and follow-through of retirement planning starts with simple fundamentals. Start with your stance (aka your financial plan), choose the right club (aka asset allocation) and go from there.
-
Is Your IRA an IOU to the IRS? Three Retirement Tax StrategiesThese steps, including converting to Roth IRAs, using a Roth 401(k) and leveraging life insurance and annuities, can help reduce your taxes in retirement.
-
One Retiree's Story of How She Built Her Retirement Nest EggOne way to build wealth is to max out your company’s retirement plans, but doing it in tax-efficient ways can make an even bigger difference.
-
So That Car Accident Wasn’t Your Fault, Huh?Insurance agents hear all the excuses, but speeding and distracted driving, especially when the weather is bad, are well within drivers’ control.
