We’ve always been a giving people. It’s in our DNA to share what we have, to lift as we climb, to make sure nobody goes without if we can help it. But let’s be real: at 50 and beyond, many of us are thinking about retirement, fixed incomes, and making sure we’re financially secure. The good news? You can still be generous without jeopardizing your own financial wellness.

First, let’s talk about setting a giving budget. Just like you budget for groceries and utilities, decide what percentage of your income you can comfortably give away. Financial experts often suggest 5-10%, but you know your situation best. Write it down and stick to it, even when your heart wants to give more than your wallet can handle.

Your time is incredibly valuable. Volunteering at a food bank, mentoring young people, or using your professional skills to help a nonprofit costs you nothing but time. Your decades of wisdom and experience? That’s priceless. A young entrepreneur needs your business knowledge more than they need your money.

Consider micro-donations. Instead of giving one large gift you can’t afford, spread smaller amounts throughout the year. Five or ten dollars might not seem like much, but when thousands of people give that amount, it creates real change. Many organizations now have apps that round up your purchases and donate the change.

Host a giving circle with friends. Everyone contributes what they can afford, and together you decide which cause to support. This multiplies your impact and creates community around generosity. Plus, it holds everyone accountable to their giving goals.

Shop with purpose. When you need to buy gifts or household items anyway, choose Black-owned businesses or companies that give back. You’re spending money you would have spent regardless, but now it’s doing double duty.

Share your skills instead of your wallet. Are you good at tax preparation? Offer to help seniors in your community. Can you cook? Prepare meals for a neighbor recovering from surgery. Know how to braid hair? Teach a young mother. These acts of service are forms of wealth that don’t show up in a bank account.

Clean out your closet strategically. That barely-worn coat, those professional clothes from your working days, those kitchen gadgets you never use? They’re wealth sitting idle. Donate them to organizations serving people re-entering the workforce or escaping domestic violence. Your excess becomes someone else’s new beginning.

Remember, saying no is also financial wisdom. You don’t have to give to every GoFundMe, every church fundraiser, every cause that tugs at your heart. Choose a few that align with your values and focus your giving there. Quality over quantity protects both your finances and your peace of mind.