Hey BP, its been a minute. Anyway long day so I’ll keep this post brief. Just wanted to hear some opinions from older, wiser people.
Donating... often times myself and many of you are asked to donate to a good cause that more times than not, is heartbreaking, and you want to make a contribution.
Then as a young kid, I hear more and more investors continue to say to save every dollar, don’t spend unless you truly need something, and stack that big pile of reserves for when you need it to invest. Which essentially is my goal. However $12.50/hour jobs make that slightly harder than someone who already has a college degree, so I tend to value my money highly right now, as I continue to trade an hour of my life for $10 post taxes.
However, back to the donation part. I am totally for many of these causes and in my opinion I would rather really save now, build up wealth and cashflow and then when I do have enough to take care of myself, my family and friends, then I want to donate massive sums of money toward charities of my liking.
What do you guys think of this, be honest. Am I an ******* now for not donating to the kid w lung cancer today, so that I can donate to 25 kids years down the road?
Thanks as always,
Giving should be done as you go. No matter how small of an income someone has, they can still share with others that have needs.
You can always donate your time to a worthy cause, especially if you’re young and your income is limited. Donating doesn’t just have to be about money.
I donate time and money now (more money than time because I have more of that now). However, when I was younger I donated my time (and a lot of it) because, quite honestly, that’s all I had to give.
I give nothing and revel in my selfish wickedness.
(There you go, VICE, now you got me.)
Donating doesn't have to be about money as @Kyle J. mentioned. The easiest thing to donate is clothes. Goodwill, halfway houses, homeless shelters, etc. Food drives is another big one, especially around the holidays.
You can also donate by volunteering within your community.
Ever shop and get asked by the card machine to donate a dollar to a good cause? Anyone can afford that every once in a while. Its not going to break the bank.
When you get to a place of giving, and helping people along your journey, you will see a lot more benefits. I think that's why people are adamant about charity donations, especially successful people. Because there is more purpose to life when its not all about you.
@Sam Giberti it just depends on your values. I give some now (always have) and I plan to be quite charitable in my later stages of life. Giving fully depreciated properties away is a great way to be charitable and lessen your tax burden.
@Sam Giberti You should read "The Go Giver" by Bob Burg. Its a pretty quick read and breaks your question down pretty well.
@Jason Larson will do, thanks man. Thanks to everyone else for the advice as well, appreciate it!!
@Sam Giberti if you have it, give! Give along the way of saving. Even if it’s $2, $5 or $10, give. You have the opportunity to work everyday and and save, it’s not like you’re giving everyday. This universe rewards greatness.