Rick Steves, who became a millionaire through his European travel guides and series, is uncomfortable with the idea of living lavishly while many suffer in poverty.
In a bid to support homeless women and children, he purchased an entire apartment complex. Steves then donated the $4-million property, named Trinity Place, to the YWCA. As a result, 24 individuals have found a home in these apartments. Trinity Place serves as a sanctuary for women, predominantly single mothers, offering them guidance and an opportunity to stabilize their lives.
Specifically, Steves acquired the complex in 2005 and modified it to cater to the needs of impoverished families.
“Twenty years ago, I devised a scheme where I could put my retirement savings not into a bank to get interest, but into cheap apartments to house struggling neighbors,” Steves wrote on his blog. “Rather than collecting rent, my ‘income’ would be the joy of housing otherwise desperate people.”
He collaborated with the YWCA and the Rotary Club of Edmonds to refurbish the apartments, gaining additional support from the Gates Foundation and local authorities. Consequently, mothers and their children were able to move in. From 2005 to 2016, the complex remained largely occupied. Initially, Steves had intended for the complex to serve as his 'retirement nest egg,' but he decided it should benefit others until his retirement. In 2017, he formally donated the apartments to the YWCA. His subsequent goal was to motivate others.
“Working with the YWCA and the Rotary Club of Edmonds, we publicized this creative way of putting a fortunate person’s retirement nest egg to work in a powerful way in hopes that others would be inspired to do the same in their communities,” he wrote.
Several mothers in the complex were estranged from their children due to unfortunate circumstances, such as drug addictions. They endeavored to reconstruct their lives. Trinity Place provided an opportunity for homeless mothers to reunite with their children who had been placed in foster care.
Rick Steves is also involved in various charitable endeavors.
He witnesses the effects of climate change globally during his extensive travels, observing phenomena such as droughts in Ethiopia and the melting of snow in the Swiss Alps. Steves acknowledges that the travel industry, including his own company, contributes to these environmental issues.
As a result, he contributes $1 million annually to organizations combating climate change through a program named Climate Smart Commitment. In fact, he donates $30 for each of his customers; experts suggest that this amount can mitigate a traveler's environmental footprint. With an approximate annual clientele of 30,000, this equates to about $900,000, which is then rounded up.
“It’s not an issue of can we afford it,” he said. “If we are in the travel business, we are contributing to the destruction of our environment.”
To date, the funds have been allocated to Project Concern International, the Evangelical Lutheran Church in America World Hunger, and Bread for the World.
Although the Trinity Place project commenced in 2005, it continues to aid individuals to this day. It is heartwarming to be aware of the benevolent individuals who strive to ease the lives of others. Rick Steves aspires that other multimillionaires will emulate his philanthropic actions to assist those less fortunate than themselves.
“Everyone says if you consume more, you’re happier,” Steves told in a video interview. “But that’s not the mark of a very thoughtful person.”
Instead of pursuing personal gains, he chose to invest his efforts in helping individuals and the community. There is nothing more valuable than enhancing the lives of others. Steve advocates for vicarious consumption as a means to attain happiness from wealth. This implies that the true joy derived from wealth comes from aiding others rather than indulging in solitary consumption.
“The gap between rich and poor in our country continues to widen,” Steves noted in his blog post. “And I believe needs — such as affordable housing — will only increase as budget cuts are implemented. Organizations like the YWCA will need to pick up the slack. If our country truly wants to be great, we need creative thinking connected with our hearts. And it’s my hope that love and compassion can trump values of crass commercialism, greed, and ‘winners’ beating ‘losers.’”
