If you're a successful person in your field and made lots of money, more than your needs, what would you do with it? Most of us will buy extra things, change to a more luxurious and expensive lifestyle, but only a few would think about others or giving back to the community in a meaningful way. Often it's the people who have experienced poverty or misfortune that would want to give back. But due to the rarity of upward mobility, there aren't too many of them.
To share your wealth with others not only makes you a noble person and beloved by the people around you, but it also makes you feel good. There's a saying that money doesn't buy happiness but this is one way in which it can.
The wealth gap is becoming a huge economic problem, not only in the U.S. but all over the world. One statistic shows that the richest 1 percent has twice as much wealth as the rest of the world's population! Experts have said that this wealth gap is turning the U.S. into an oligarchy, and it's a threat to democracy as well. When the rich are getting an unfair advantage and the poor cannot rely on the government to safeguard their rights, it pushes people to revolt. This is just one way in which this wealth gap is detrimental.
While we can't easily fix the problem, there are things that each of us can do to help ease it and make the world a better place. We can start with baby steps. Professional soccer player Sadio Mane is an example of someone who used his wealth to help his community and to make a real difference. Mane, who reportedly makes over $132,000 a week, helped build a school and a stadium in his home country. Mane is originally from Senegal, a small country in Africa. He is paying every person in his hometown a monthly stipend of just over $70. These are the things that provide the less fortunate with the means to succeed and not have to depend on others or government money, of which they probably do not get. This, in turn, helps the country with economic growth.
If every millionaire and billionaire spent their money the way Mane does, we would end up with a much more productive society. It would also reduce the wealth concentration and give the less fortunate a slightly leveler playing field.
Have you changed your mind about how you will spend your wealth if you're fortunate enough to overcome your debt and become wealthy, or at least have more than the bare minimum?