Make the Most of the Holidays
Whether your family will be gathered around for a steamboat dinner, or just a virtual yumcha session to celebrate closing 2020 (finally), the holiday season is a great time to reflect on what you've all accomplished in 2020 and start looking ahead to a brighter 2021. Sharing your answers to these three questions can help you create a family mission statement that will prepare the next generation to be generous and thoughtful stewards.
1. What are our values?
The myriad challenges of 2020 forced all of us to reassess what's truly important. You may have realized that you weren't allocating enough time for your passions. Events might have opened your eyes to problems in your communities you hadn't noticed before. Perhaps your family is exploring new opportunities to give back to society, rethinking education plan (when going abroad may not be so safe or relieving for parents now), or even contemplating career changes, or purely taking a break from work to be with family more.
In a conversation between generations of family members, some of these topics can get a little touchy. It's important to remember that your family doesn't have to agree on every issue that's discussed. Instead of trying to convince each other, focus your mission statement on the things that everyone will be excited to work on together.
2. What is our purpose?
It's possible that your values discussion will lead to a long first draft of your mission statement. Settling on a clearly defined purpose will help you narrow down that list. No matter how wealthy or well-intentioned your family is, you can't help every cause. In fact, many retirees let their charitable impulses get the better of them and put a serious dent in their nest eggs. While it is important to give back and have a big heart for others, we got to first ensure we won’t put ourselves in harm first.
One good place to start this discussion is to think local. For example, if your purpose is to help in the fight against COVID-19, donating to a humanitarian organization like Lions Clubs International Malaysia (I am a member of Lions Clubs of Kuala Lumpur Elite), Women’s Aid Organization, or organizations that are helping people to deal with stress and mental issues such as Buddhist Gem Fellowships, Befrienders etc will probably be the most effective use of a monetary gift. If you have a huge heart to care for abandoned baby, there’s Orphan Care and their Baby Hatch centre that you can contribute to.
Alternatively, you could also supplement that donation by organising a food drive to support the unemployed in your community. That food drive could become an annual event that your family continues to grow and manage in perpetuity. This can help you achieve the goal for helping people who are less fortunate, while also bring your family together and be closer to accomplish a shared goal.
3. What is our plan?
Settling on values and purpose should give you an idea of what you want to accomplish. But what are the steps you can put in place to make a real impact?
Family giving plans come in all shapes and sizes. You might enjoy this values and purpose discussion so much that your family decides to revisit it every holiday season and choose a new charity to support.
How you and your family feel about your shared mission can be complicated, especially after such a challenging year. Settling on the best options to realize that mission can be complicated as well, especially if your dream is to start an organization that could become a positive cornerstone of your community. Perhaps with deeper discussion and exploration, you guys may founded a social enterprise that actually will create a long lasting impact for the community.
Let us help you sort through those options so that you and your family can stay focused on the vision that's lifting your spirits this holiday season.
