Warren Buffett, MacKenzie Scott, and Finding Your Good

We can all be philanthropists in our own ways. [Morningstar](?utm_source=eloqua&utm_medium=email&utm_campaign=newsletter_smartinvestor&utm_content=30283&elqTrackId=f1ac2d358eeb41079e7dd7176872ccdd&elq=74c0e997537b4d0685a974e0eb50838f&elqaid=30283&elqat=1&elqCampaignId=13923) [Smart Investor] Smart Investor with [Susan Dziubinski, Director of Content]( [Susan Dziubinski] In late June, both [Warren Buffett]( and MacKenzie Scott made news for their multibillion-dollar donations to charity. Like some other altruistic billionaires, Scott has signed the Giving Pledge--created by Buffett and Bill and Melinda Gates more than a decade ago, the Giving Pledge encourages the super-rich to distribute a significant chunk of their wealth to charitable causes. Many equate philanthropy with stratospheric wealth--a do-good activity for the Buffetts and Scotts of the world. Others define the term more loosely: To them, a philanthropist is simply someone who donates time, money, or talent to help create a better world. I prefer the second definition. Under those terms, we can all be philanthropists. We just need to find our good and act on it. Given that Morningstar.com is a financial and investing site, we of course provide insights around the money aspect of giving back. My colleague [Christine Benz]( has discussed [how to check up on a charity]( to make sure your dollars are being effectively spent. She’s also shared[charitable strategies to pursue]( as donating appreciated stock, contributing to a [donor-advised fund]( or making a [qualified charitable distribution]( from an IRA--that, in addition to helping others, may also yield tax benefits to you and lower your portfolio’s portfolio risk. You can find these philanthropic money ideas and others in our [2021 guide to charitable giving](. For many, though, acting on your good may not involve money at all. Instead it may mean giving your time to a food bank or a community garden. Or sharing your special talents with a tutoring program or a senior center. Or reminding the children in your life that they can make the world a better place--and then encouraging their charitable acts, whatever they may be. ADVERTISEMENT [media]( [media] Morningstar Specialists [Hot Spots for Your Midyear Portfolio Checkup]( [Hot Spots for Your Midyear Portfolio Checkup]( Here's what to keep an eye out for this year. Christine Benz, Susan Dziubinski [Should These 11 Travel Stocks Be on Your Radar?]( [Should These 11 Travel Stocks Be on Your Radar?]( These companies stand to benefit from pent-up demand--but they aren’t all undervalued today. Susan Dziubinski [Get a Tax-Smart Plan for In-Retirement Withdrawals]( [Get a Tax-Smart Plan for In-Retirement Withdrawals]( Consider these strategies to stretch out your tax savings during your retirement years. Christine Benz [Investing During an Era of Speculation]( [Investing During an Era of Speculation]( Should we be concerned about the financial markets' excesses? John Rekenthaler [Your Financial To-Do List for July]( [Your Financial To-Do List for July]( Is it raining or too muggy? Use this time to evaluate your portfolio. Christine Benz, Susan Dziubinski [A Midyear Portfolio Checkup in 7 Easy Steps]( [A Midyear Portfolio Checkup in 7 Easy Steps]( Reviewing your year's performance so far, and positioning yourself for the future. Christine Benz Popular This Week [3 Great Stocks to Own]( These brand-name companies are businesses to buy and hold for the long haul. Morningstar [How to Choose a Great Dividend Income ETF]( Use caution when chasing yield. Daniel Sotiroff [9 Funds Whose Expense Ratios Have Risen in Recent Years]( Cash outflows and performance adjustments have pushed these funds' expense ratios up. Greg Carlson [How a Little Bitcoin Can Change Your 60/40 Portfolio a Lot]( After bitcoin’s recent slide, it may be tempting to buy the dip. Here’s what to consider when thinking about adding it to a balanced portfolio. Adam Millson [Wash Sale Challenge: What Is Substantially Identical?]( The key to proper tax-loss harvesting comes down to "facts and circumstances." Sheryl Rowling Listen Now Get the latest investing insights and market updates with [Morningstar’s podcasts]( available on your iPhone, iPad, Android, PC, or smart speaker. Stay connected: [twitter]( [facebook]( [linkedin]( [instagram]( [YouTube]( [Apple News]( [View online]( | [See all newsletters]( | [Share your feedback]( [Unsubscribe]( from this newsletter. Or update your [email preferences](. © 2021 Morningstar, Inc. All Rights Reserved. 22 W. Washington St. Chicago, IL 60602