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Citing a potential economic infusion of hundreds of billions of additional dollars in charitable contributions, money manager Claude Rosenberg Jr. offers people of all wealth levels a practical guideline for determining a comfortably affordable donation.
- Sales Rank: #1646702 in Books
- Published on: 1994-09-19
- Original language: English
- Number of items: 1
- Dimensions: 9.50" h x 1.00" w x 6.50" l,
- Binding: Hardcover
- 224 pages
Review
...Mr. Rosenberg, a professional fund manager...shows persuasively that the wealthy -- and even those who proudly claim membership in the broad middle class -- could easily give more money to charity than they do, if only they planned their finances properly. Charitable giving suffers, Mr. Rosenberg argues, when potential donors calculate their capacity for charity as a function of each year's income....[H]owever...the capacity to give depends more on net worth than on any year's income, and many Americans...have no clear picture of their own net worth. Large portions of "Wealthy and Wise" address this problem through exercises designed to help readers make such a calculation accurately... -- The Wall Street Journal, Friday, January 6, 1995
Mr. Rosenberg...advises people to first figure out how much they need to maintain their life styles, get them through any imaginable turmoil and provide for their families. But after that, he said, many Americans - even at the $50,000 income level - have stashed away more wealth than they need. He recommends that those people increase their giving now so that they learn to give in ways that accomplish clear goals...And as they [do]...they should step up their giving. Mr. Rosenberg's organization has trademarked the word "newtithing" for his concept of charitable giving based on assets and surplus income. The idea...is also explained in detail at www.newtithing.org, his organization's web site..."A lot of people have been waiting for some validation that it is all right to give a lot more," Mr. Rosenberg said. "I am giving it to them based on research." -- The New York Times, April 4, 1999, By David Cay Johnston
From the Publisher
We are pleased to announce that Wealthy and Wise was Amazon.com's #1 bestseller in 1998 for the Philanthropy and Charity category.
From the Author
I'm concerned about numerous trouble spots that are negatively effecting our nation. Look at our public educational system, drug abuse, poverty, or the rising fear of violence. Even in an era of enormous prosperity, we're experiencing a dangerous deterioration of our societal fabric that can not persist without severe repercussions for everyone.
We should not and can not rely heavily on government to solve such problems. If the wealthy don't share more of their good fortune to address our most pressing needs, we could relegate another generation of Americans to hopelessness and dependence. While the success stories of the prosperous have recently been held in awe, if wealthy people don't make a more recognizable impact on our country's needs, national fascination may turn to national frustration, triggering higher taxation or other forms of expropriation aimed at forcibly sharing the wealth.
The good news is, we have the wherewithal to make both our citizens and our non-profit sector healthier and more self-sufficient for generations to come. With increased giving from our wealthiest taxpayer groups, we should be rewarding non-profits who demonstrate effective results, and educating others to follow suit. Imagine the improvements America could make if significantly higher funding accompanied greater non-profit effectiveness. This dual approach could become one of our nation's most productive investments -- in ourselves, our families, our citizens, and our descendants.
Most helpful customer reviews
16 of 21 people found the following review helpful.
The benefits of following the advice in Wealthy and Wise.
By J. Richard Seale
"I was so impressed with Wealthy and Wise that I suggested my 19-year old daughter read it. What better introduction to life's responsibilities and the utility of money? My wife heard our discussions and we put Mr. Rosenberg's ideas to work. Recently diagnosed and successfully treated for cancer, she was amazed at the current anti-nausea drugs. However such drugs are expensive and can put a real drain on a less fortunate family. My wife's oncologist thought that funds to assist in such situations were really needed. Our brand new family foundation wrote that check recently and we feel great! I thank Claude Rosenberg for such a wonderful book."
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