Why Are Rich People Afraid to Give Their Money Away?

The Chronicle of Philanthropy looks at the rich and the financial advisors of the rich and their differing approaches when it comes to charitable giving. They find that financial advisors are “under the misimpression that wealthy people may be reluctant to give because they fear not having enough money for their heirs and themselves.” But the REAL reason they are afraid to give away their money is “fear that nonprofits will misspend their money, their lack of connection to a charity, and their concern that they will face a deluge of donation requests from other groups once they give to one organization.”



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