In this episode: building a giving framework, the giving pledge, compound impact, donor-advised funds, and different ways to give.
Is it better to give to charity in a lump sum versus incrementally? What are the tax implications of donating? What are the benefits of using donor-advised funds? This week we answer these questions and more with the help of Rebecca Herbst and Jack Lewars as we discuss charitable donations and effective giving while on the FI journey. A large part of FI is taking actionable steps to improve your life, but this journey also opens up opportunities to improve the lives of others. Navigating donations while on the path to FI can seem tricky because we are so focused on attaining our FI numbers, but there are still many ways you can give back and make a difference. Creating the habit of effective giving can help you leave an impact on yourself and the world at large! Many resources are available that can help calculate what you can give while remaining on the FI track and help you see how your donations are making a difference!
Rebecca Herbst & Jack Lewars:
- Yield and Spread: yieldandspread.org
- Rebecca’s Coaching Program: Coaching for do-gooders
- 1 For The World: 1fortheworld.org
- Jack’s LinkedIn: Jack Lewars
Timestamps:
- 1:37 – Introduction
- 4:25 – The Giving Pledge
- 12:12 – Building A Framework And Effective Giving
- 23:54 – Should You Get To FI Before You Give?
- 34:07 – Compound Impact
- 40:56 – Feedback From Giving And Fun Funds
- 52:40 – Different Ways To Give
- 62:52 – Donating Appreciated Stocks
- 68:52 – Conclusion
Resources Mentioned In Today’s Episode:
- Join Your Local ChooseFI Group
- “The Life You Can Save: How to do your part to end world poverty” by Peter Singer
- School of Hard Knocks
- “Practical Ethics” by Peter Singer
- GiveWell
- The Life You Can Save
- “Die With Zero: Getting All You Can from Your Money and Your Life” by Bill Perkins
- Yield & Spread’s DAF Series
- “Doing Good Better: How Effective Altruism Can Help You Help Others, Do Work that Matters, and Make Smarter Choices about Giving Back” by William MacAskill
- Subscribe to The FI Weekly!
