An anecdote from one of my alma maters stayed with me for years. At the dedication of a building bearing his family name, a generous benefactor reflected on his life: “I spent the first third of my life learning. I spent the second third of my life earning. And this final third of my life I have dedicated to returning.”
The symmetry of the statement is as beautiful as the sentiment. If only life unfolded so neatly.
For the average American, life expectancy is about 79 years[1]. By the time education, career building, raising children, and the responsibilities of adulthood are well underway, much of life has already passed. Many postpone their deepest generosity, mentorship, and legacy work for a future season that may arrive later than expected, or not at all.
Over the years, I have had the privilege of accompanying people through many stages of life: living with college students, mentoring young professionals discerning careers and family life, working alongside nonprofit leaders and philanthropists, and sitting at the bedside of the young and old near the end of life.
These experiences have led me to conclude that life is richer when its seasons are not neatly divided, but woven together:
Learn while earning. Earn while returning. Return while learning.
The United States is in the early stages of one of the greatest intergenerational wealth transfers in history. At the same time, nonprofits, schools, churches, healthcare systems, and civic organizations are being asked to address increasingly complex problems, often with limited resources.
Much attention is paid to the trillions of dollars expected to pass from one generation to the next. Less attention is given to a quieter question: What if more of that capital, wisdom, and experience were put to work sooner, while people are still alive to witness and enjoy its impact?
Americans are already extraordinarily generous. One striking measure is the growth of donor-advised funds (DAFs). At the end of fiscal year 2024, nearly $328 billion was held in DAFs, meaning those assets had already been irrevocably committed to charitable purposes. To put that in perspective, DAF assets are equivalent to more than half of everything Americans gave to charity in all of 2025.
That is an extraordinary testament to generous intent. The resources have already been dedicated. What remains is choosing how and when to put that generosity to work.
And financial capital is only part of the story.
There is another enormous reservoir in our communities: human capital. Decades of experience, expertise, relationships, judgment, leadership, creativity, and wisdom. These resources, too, have enormous potential when shared with people and organizations working to strengthen our communities.
At Becker Capital, we spend much of our time helping clients think carefully about long-term stewardship. Financial prudence matters. Thoughtful investing, disciplined planning, and responsible wealth creation are good things. Good stewardship involves not only preserving and growing resources, but with discerning when and how they are put to their highest purpose.
Returns matter. But not every meaningful return is captured by a financial index. Some are realized in opportunities created, lives changed, institutions strengthened, and communities that flourish.
A scholarship for a first-generation student. An endowed meal service at a homeless shelter. Mentorship for a young nonprofit executive. Helping a recovery program expand. Serving on a nonprofit board. Opening a door through a relationship. Guiding children and grandchildren in conversations about values, generosity, and purpose.
These investments can produce extraordinary returns and meaningful legacies. They create opportunities, strengthen institutions, develop leaders, and contribute to the vitality of communities today and for generations to come.
They can also enrich those who make them. Giving during one’s lifetime offers the opportunity to know the people, see organizations grow stronger, share experience and wisdom, and involve children and grandchildren in the practice of generosity. Preparing heirs, after all, involves more than transferring assets. It also involves forming stewards.
None of this is an argument against success, wealth creation, saving for the future, or enjoying the fruits of one’s labor. Rather, it is an invitation to think more expansively about stewardship and timing.
Life rarely unfolds neatly, let alone in perfect thirds. We need not wait for one season to end before another begins. Learning, earning, and returning can instead be woven together throughout our lives, each enriching the others.
[1] https://www.cdc.gov/nchs/fastats/life-expectancy.htm [2] DAF Research Collaborative. “Annual DAF Report 2025” https://www.dafresearchcollaborative.org/research/annual-daf-report