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I imagine once you have a guaranteed $10-$20 million to your name, you'd not need or have any attachment to any money after that.


I would at least believe that there is a point where most people start seeing money primarily as a tool (rather than something they primarily exchange for necessities...).

My qualification there was mostly intended to deflect the impression that I was sniping. I don't have any much knowledge of high end wealth management, but my understanding of it is that it is very difficult to use a charitable gift to actually make money. There is some tax benefit, but it is always smaller than the gift.

Apparently the big charity-as-tax-scam is to establish a bona fide foundation and then stack the board with people you would like to provide with income. But that foundation has to pass a smell test with the IRS, so it is really a tax and wealth management strategy, not a way to escape paying taxes (at least, paying taxes on income that gets used for something or other).




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