-An extract from Venerable Pomnyun’s book, Life Lessons–

P: Older people are expected to be more open hearted and generous. When young people are frugal and try to save money, they are looked upon with approval. However, when older people try to hold on to their possessions or money, they are frowned on.

If someone likes your clothes, you should give them away. You won’t be able to take anything with you when you die. After you pass away, even your kids won’t take your clothes. Unless you’re someone famous and your clothes are worthy of exhibiting in a museum, they will be burned. Therefore, when you give your things away, they are only considered to be gifts when you are alive. People will refuse to take a dead person’s clothes because many think that they are possessed. Thus, giving away your things long before you die will help you let go of your strong attachment to them and also will bring you good fortune.

When you give your wealth to those in need, it becomes a charitable act. Giving food to the hungry and caring for the sick bring good fortune to everyone.

As people age, they often wish the best for their children and grandchildren rather than themselves. If you wish for the well-being of your descendants, you must do good deeds. You need to keep making donations for the poor, albeit a small amount. Instead of trying to donate a large amount of money out of greed for good fortune, you should donate steadily within your means. For example, if you have $10, you can spend $9 on your lunch and donate $1 for the poor. This is the way to accumulate good fortune. Instead of praying for the wellbeing of your children and grandchildren, you should keep doing good deeds. Then, you grandchildren will surely reap the benefits.

When you leave an inheritance to your children, they are likely to fight over the money and end up becoming enemies. I’ve been to many funerals, and I have witnessed that when the deceased has left a large inheritance, the remaining family members inevitably get into conflict. As soon as the parents pass away, disputes over the inheritance break out among the family members. However, if there is no inheritance, there is no conflict.

If you put your assets in order and give most of them away while you’re alive, things will be tidy and simple after your death. Therefore, it’s best for you to only keep the amount you need to live on in your old age and donate rest of the assets to good causes. Since you plan to donate your money anyway for the good of our society, you should not begrudge the taxes you pay when you have a high income. It won’t make a difference whether you donate a lump sum at the end of your life or small amounts throughout your life.

We all depend on nature and benefit from the society that we live in. Any wealth we have accumulated cannot be considered to be our own because it has been gained through the benefits we receive from members of society and nature. If you keep this in mind and use your wealth for the common good, you will not only be able to put your assets in order before you pass away but also obtain good fortune. Using his wealth, Bill Gates, the richest man in the world, established a foundation with the goal of finding cures for fatal diseases such as AIDS. If you donate your assets to organizations that contribute positively to the advancement of society, the wealth that you have worked so hard to accumulate your entire life will be used for beneficial and worthy purposes.

Some time ago, the CEO of a major Korean company was involved in a legal fight against his siblings over the inheritance his father left behind. Since he had secretly taken possession of all the inheritance without the knowledge or consent of his siblings, he should have apologized to them when his wrongdoings were revealed. Instead, he caused a racket in court shouting, “I won’t give back a single penny. I will go to the constitutional court or even the supreme court to make sure of it.”

From this incident, we can conclude, “There is no limit to greed. Money doesn’t guarantee happiness. Money can’t solve our problems.” We can also see how inheritance can drive siblings apart. Therefore, it’s best to think about and decide while you’re still alive whether you will give your wealth away as a gift to others or leave it as a source of trouble for your children.