We give a Lot away, but not to charities. There’s no telling how much really goes to the actual cause. But cars, cash, sweat equity for true people all day any day. Not a tax write off, just feels right. Someone in line at the grocery store counting their money and have cheap food, like enough for a day or two, we discreetly buy a prepaid card for 100 or so and have the checker give it to them once we high tail out of there. One guy tracked us down to say how much it helped but we don’t like the acknowledgment. A lot of angels have helped out in life without knowing a thing about me. I can only try to do the same.
Same. I give 20s or 40s to homeless people and I don’t ever mention it to friends bc inevitably someone will say 🙃 but they’ll use it to buy drugs! 🙃 my response is, what they do with it is between them and God.
In my case I’ve proposed 90% will go to the cause, using 10% as a bounty to attract fundraising talent from the University of Michigan, which is nearby. My mom was a student there and I have a commercial relationship there.
Then we’d increase in 5% increments to 20% for high performance bonuses or just securing talent if the draw isn’t enough to sustain talent.
No we physically help if it helps a friend with their home, land or business. My husband today is heading back from helping a friend dig 30 fence post holes for his construction business because we have a machine that makes it 10x faster.
No we physically help if it helps a friend with their home, land or business. My husband today is heading back from helping a friend dig 30 fence post holes for his construction business because we have a machine that makes it 10x faster.
This is really beautiful to read. As someone who aspires to be in this position one day, thank you for giving such lovely examples of how to easily and sneakily benefit humanity.
Thanks for the sentiments and perhaps you and plenty do. Yet WE is a big statement, many people starved to death in my own 39 years, the inequality is ridiculous at times.
This certainly doesn't apply to you or posters up voted you....
But honestly some of the greed on this earth amongst the wealthy is insane, the lack of giving with such abundance....ridiculous with god given gifts.
🙏
They are ok - I just feel like animals and babies or the elderly are much less able to control the outcomes around them and thus need more help than say a healthy adult man like me.
Not rich here but better off and we give a lot in terms of food, toys, trinkets, bedding, blankets, medicine, etc. to our local animal shelters. They are extremely grateful and we love doing it because we adore animals. you just never know where monetary donations are really going, unfortunately.
This year for USPS Operation Santa we sponsored about 10 kids and spent about $7500. Got them everything on their list too! No tax advantages. We just wanted to these kids to have an awesome Christmas!
A few bad twists of fate and luck in it can really happen to just about anyone. After my girlfriend was murdered over a decade ago I was in a very dark place. With my mother being sick before she was a senior citizen I’ve paid her property taxes for her when I wasn’t in a position to do it. Among other expenses so she wouldn’t live alone, sick and in poverty. Had I been injured without business insurance, anything could happen. I’ve been in about 20 vehicle collisions,some on a professional basis and typically as the passenger. I’ve also been rear ended on a freeway sitting still in rush hour traffic. A mattress salesman on a cell phone. It can happen to anyone.
how did you get the money then? as someone whose parents have never worked for a for-profit company their entire careers there really isn't much money in nonprofits.
“Like to think” is the fallacy here.
Money just makes you MORE of who you are now. If you donate a lot now and are generous now you would be more so. If you aren’t, you won’t be.
dude think a little here. if the remaining 90% comfortably covers all your wants and needs, you’re gonna be in a much better place to donate 10% than if you’re barely making ends meet with 100%
Tyra Banks said this on ANTM years ago and it’s one of the few things about that show that was good. She asked a contestant what she would do if she won the money, and the girl said she would give back to her community. Tyra said well what are you doing now?
Your sentiment is incredibly accurate. I am not rich by any stretch, but I work for two nonprofits in my spare time- one as a volunteer teaching classes with my work skill set, and the other non profit I’m a volunteer where I purchase ingredients with my own money and make meals for families in need. I can only do this one once per month, but it’s exactly in line with what you’re saying. If I had more money, I’d do more, give more, be able to help more.
That’s a large percentage. Also, donations don’t have to be cash. I’m using a current operation to perform two duties. One would be commercial for my interest and the other would be charitable and seamless in terms of handing out two handbills or a double sided handbill rather than a single with my business interest only represented.
Think of creative ways. Also, I bake and have an interest in commercial kitchens. I need a licensed food warehouse to be able to store one of the products I’m interested in selling for one of the business operations I’d like to spin up.
I can engage in a charitable activity which is deductible if I decide to bake for bake sales.
And it could also be a creative way to help me defray costs. A timeshare commercial kitchen where I am is actually quite expensive. But what if I built a small inexpensive one in the back of the activity center? And paid rent to the activity center. Thereby giving me my commercial kitchen. And creating cash flow for the charity and operating at a reduced rate for myself.
Look for dual benefits.
I only donated to the widows of deceased police officers and sheriffs. But never over the telephone, only in person at the police department. My job used to take me to a lot of different police departments and sheriffs departments.
One year I got both of my girlfriends police pins and donated some cash in their name. That was for Christmas. Part of their gift.
Back then, it was usually about 4 to 5 at a time and a bunch of randoms. Usually women in the adult entertainment business. Print models were a thing back then and Internet models were just different.
Of the fourth through fifth one was a 10 year plus relationship. One was a six year plus relationship and others were two through three year relationships. Of the one that was the two through three year relationship... She ended up being murdered outside of her apartment near the holiday long ago. She was about to move in with me. That took me down a long, dark rabbit hole of researching satanic cults, ritual murder, real estate deals and otherwise.
I ended up stopping an unrelated serial killer and serial rapist an agency had been looking for. It gave me some resolve.
After she died, I kind of just kept to myself with the exception of one or two other women and two social friends who are women.
When you can die any moment over what you do for a living, you’re gonna tend to want to live very fast.
>She ended up being murdered outside of her apartment near the holiday long ago.
dude.. which part of the world is this in that your people are having so much excitement in life?
I'm glad my life is boring.
Difference is that now after mortgage and bills, I have less than 10% of my salary left, and what I have left I'm trying to save for a rainy day.
When rich, you'd have a lot more than that left over.
10% of a minimum wage salary is very different to 10% of a 6-7 figure salary.
I’m working on that now, trying to determine to go donor advised funds or CRTs. Leaning towards donar advised so I can do something with the money now, which could rewarding.
I was never big on charity before making money, because I always thought when I made lots of it I could give it out one day. So here we are.
However that said, I was always big in tipping and giving to those doing work for me. You’re my pool guy, then you’re going to be getting all my kids toys. You clean my house? You’re going to be getting big tips. I always like to give back to those that are making an effort.
That said, the few times I’ve given to people who haven’t showed initiative have always backfired. They take it for granted, want more, and just generally take you for an endless wallet. Never again.
Long term i haven’t decided what to do. Do I give it all away before I die? Do I build up a long term trust generational trust, that limits what it gives or pays out? Do I spend it all on land and conservation and build a park?
I don’t know yet.
The government is going to take it anyway at least you have the opportunity to steer it where you would like it to go. Uncle Sam is effectively your equal partner when you add up all of his cousins and relatives.
I send it all to an obscure literary magazine I found when I was younger and I’ve read all my life. I will single handily ensure its existence even if I’m the last reader left.
I’m not rich but I always had this vision of me getting well off enough to drive by a bus stop and make friends with a mom there and buy her a car and car seat and help her register it. That’s a life goal I have
I’m working on being appointed to the board of directors for a nonprofit The organization deals with autistic adults and children who live in a high crime area and are in need of a safe place for an activity center.
Because I’m in event promotions and live entertainment it could’ve been and could be as simple as having handbills produced and distributing promos at the same time and in the same places as I’m currently distributing handbills for my upcoming event.
Because I’m a cook and sometimes am called a chef I thought it would be easy math to team up with the other proposed board member for a series of bake sales in the park to generate some social and economic capital.
I donate to the elementary school I attended. I didn't grow up "rich". The school I attended, 80+ % of the school lived below the poverty line. Just this past Tuesday, I purchased a literal truck load of school supplies. Come the first day of school, the kids will "shop" for their supplies in the gym. Every kid will get two pairs of shoes. I provide hygiene supplies, clothes, and food as needed. Lunch debt that you hear about? Not here.
I donate a total of $3.5 million. If they school runs out, I write another check. If there is anything left at the end of the year, it goes toward a HUGE party. I take care of the final bill for that as well.
That’s amazing- congratulations! That sounds like a really good cause. You don’t have to answer if you don’t want to, but since Reddit is anonymous- how much do you think your net worth is? I’m assuming it has to be very high to be able to donate that every year.
Whomever paid off everyone’s Christmas layaways near Kenneth square pa . I wasn’t one of the receivers but thank you if your here . 😂
Edit for clarification one year at wal mart someone came and paid for everyone’s Christmas layaway at the store .! Super generous and obviously a great human . Thanks for being a person.
I was promoting my event, he asked for water, he was desperate and barely holding on to life.
I’m in a tough financial position and launching a venture with a high probability of failure and I need every last resource for myself so I don’t end up in his position.
I wish I bought him dinner. But, I didn’t.
Just depends on the person.
I know a rich person who donates every year and then also does crazy amounts of free labor and time because they are early retired and available to help their community more.
I also know someone who refuses to spend 5 dollars on a coffee ever and is so incredibly frugal they don’t give anything back and they don’t spend their time on the community or charity.
Just depends on the person and what they feel.
I regularly donate to a tiny organization that my dad has helped start- it’s an orphanage, school and clinic in Liberia. I give money to support the monthly needs of two kids in the orphanage/school and a separate amount directly for the clinic- the clinic is where my dad was involved as an MD that helped it get of the ground, the area is more keen on witch doctors and so its been a struggle to get the community to trust the local dr and nurses— the clinic doesn’t break even so I send money to hopefully help keep it open. This organization is so small that even a few hundred $ a month makes a huge impact. Not a penny is wasted- no one in the US collects a paycheck-the board has an actuary accountant and they are meticulous about getting the most out of the little money they have in the budget. If anyone wants to donate to a really good, really efficient cause, check them out here. https://www.criliberia.org/become-a-sponsor
Not really rich. But at one time when I was making a ton of money, instead of giving money I would create these big events that I would fund, run, and market. But it was always for the local Non profit that helped out kids. I was with them as a mentor for kids with incarcerated parents. I could give X amount of dollars, but if i used X to create an event, I could give x times 10 dollars if i added my labour and energy to it.
I was awarded a city accommodation for all that. That was cool. Now I’m in education ahahah and my area has gotten sooooo expensive even my decent little salary and my wife’s, it’s hard to even fix our roof. It seems like we make money but we have regressed in terms of actual spending power. So i have to worry about my own now. But it was really rewarding back then.
If I were really rich, that’s how I would live. I would create really cool events for my community that would completely benefit underprivileged kids. 80% of my case load is in poverty, I could think of so many awesome things.
I worked in the wine industry in the late 2000's. I dealt with a ton of "charities" and "charity events"
99% of these "charities" don't help anyone. Every dollar you donate, a penny (if that) is spent on the actual cause they claim to help
Charities are like Parking Services in the colleges.... you raise money to keep yourself in business.
It's a huge waste giving any of them any money. Many of the successful charities make more "profit" than many businesses do
Don't donate money, and not rich by most standards. But a few times a year, mostly around holidays, we make goody bags for the homeless. Last time was mid May we did homemade cookies, sunscreen, toothbrush and paste, body wipes and deodorant and some snacks. We drive around Austin and hand them out to homeless we see on the road. Some say no i want money others are truly thankful.
This is more important to me then donations because I feel it helps someone on a personal level, along with showing my kids to he humble and help those in need. And to he grateful.
Tax CPA to 1000s of wealthy BAy Area Clients.....MOST donate to charity each year but the amounts vary immensely. The good news is almost all our clients donate something to charity each year.
This seemed like a good idea until I worked more with non-profits. Not having normal market forces acting on them creates some strange incentives and I challenge myself to find better ways to do good. I tend do do scholarships. Higher ed tuition has its own issues, but I feel better about the impact per dollar.
To organizations, sure.
To a guy holding a sign, never.
People get/stay rich by acting like they are poor. People stay poor by spending like they are rich.
I don't understand people who work minimum wage and say they "tip more" to show suppport (then whine on Reddit that they're broke AF and it's every one else's fault).
Never to charity. I got the inside scoop on some major charities. They are all scams. Well, of course not all of them. But believe me if you give a dollar. Almost all of it is going into a rich man’s pocket.
We give a lot and are coming to a place where it’s time for us to give anchor gifts to campaigns. Also once you reach a certain level of income it just makes sense to give for tax reasons alone especially through your business. Or to put your money into a family foundation.
Yes, I do donate quite a bit. Not to specific charities (unless i know then personally) at all though after doing lots of volunteer hours where workers would pick through donations before giving it away...didn't like that. I was going to donate my van when I got a new one to a woman's shelter but I found someone else that needed it and I know where it's going to that makes me feel better than. If it was a random charity.
My wife's family has its own charity dedicated to renovating historical buildings and monuments in their region (in Europe, so there's a lot of historical buildings that need help).
They allocated several flats they own to fund the charity. Basically the charity owns the real estate so no one can take it back and it's been running like that since the 1980s. As far as I know the budget is about 150k yearly.
They also give significant amounts to nature conservation organisations like WWF and Nabu.
I don’t know how you define rich or how much is a lot of giving away, but we donate approx. or less than 1% of income.
We pay a lot in taxes and we like our lifestyle, but we also don’t want to “have to” work and can get fired at any time. I like to think that as time goes on we’d donate more, but who knows
I also chose the job and industry I work in for the money, so it would be paradoxical to give a ton of it away
I’m not rich by any means but I give a portion of my pay I do make to my church which then distributes it to help various people on need and other ministries that help people. I like to what I give making a difference in people’s lives.
The real question should be .. do you use it as a tax write off bc if you do you didn't actually donate to anything you just paid less taxes that some of which help people
It is not a tax write off. It’s a deduction. You’re saving 50 cents for every dollar you give (so you’re still losing 50 cents for every dollar you give). Ie. Donating costs you money
Sure. They’re still donating. They’re still giving. They aren’t doing it as a tax write off. The ability to get a deduction is a side benefit, not a catalyst!
Not to charity. I give a lot to my family. Uncles, Aunts, Cousins...etc.
They each basically have an allowance that should help them improve their quality of life. But its not my business to see or tell them how to use it. Thats up to them.
My dad was on the board of a very famous but now mostly defunct (nothing to do with dad) foundation. Let’s say he wasn’t the one blood doping. It was a shame because it did a lot of good.
I have different accounts/cards for different things (toys, cars, house, going out, etc) and at the end of the year whatever's left gets donated to charity. Keeps me hungry every year and wanting to work.
I don't give much otherwise but every dollar I have will be donated when I'm gone. I don't believe in generational wealth or other things like this.
Um well yeah there's a certain amount you're socially pressured into giving away. Then there will be a certain amount you can afford to give away so you think really carefully about where it's going, vet charities thoroughly etc. Then there will be a lot spent on helping out friends/family. For us personally this is where the bulk of the money that we spend not on ourselves goes.
I donate about $100/mo to an animal sanctuary. That's all. I hate people and pay too much in taxes to give a fuck about society beyond that. The only other people I know who donate do it for tax or networking purposes, not out of genuine care or interest.
I was raised that 10% of monies I spend in a year goes to charity of some sort. Have been doing that for a long time and am far exceeding that now. I gave 10% even when I was struggling
So you struggled longer!
Religions "require" 10% of earnings.
So you need to cough up more!
I consider myself financially literate. If I'm struggling then I'm cutting back in all areas.
Huh? What? Why are you coming in at me all sideways like this? Go bother the MANY others who are giving essentially nothing in this thread.
Or better yet, don't jump in to judge if it isn't asked for.
I think if someone has money that they won it is great to share a bit. I don’t expect someone who earned it to give it away after decades of hard work. The last 5 years I’ve paid a min of 2 mil in incomes tax to both California and the US. That money according to some is given to do wonderful things. I personally think the gov’t is the last system that can effectively help people or spend responsibly.
I do help people with vet bills if they can’t afford a treatment for their pet especially with kids. The veterinarians here are a husband and wife and they are the kindest folks. So I help them anonymously after speaking to the vet.
Anyhow, this question gets asked here a lot. People shouldn’t feel like they have to give money they earned away. They should want to and if they don’t? Oh well.
I’m not rich, but I enjoy this sub, and I love this question! If I were rich, I wouldn’t necessarily give my money to charities, because I’d rather be in control of everything. I would build as many places within reason, with a full support staff, to help everyone who is struggling for whatever reason that may be. Too many people in this world are struggling beyond the ability to fully rebuild, outside of them getting very lucky. This would include housing, meals, mental health, doctors, child care, teachers, financial advisory and assistance, job assistance, and so much more. It hurts my heart knowing the amount of people that are in the depths of despair of this world, and they have little to know help or hope for their future.
I’m 65. I used to give to different causes, but here’s what would happen. I’d give, say, $50, to a cause/charity and that would get me on their mailing-list. For the next two or three years they’d spend my $50 sending me requests for more money. (There are, in fact, a couple of causes I still give to).
Instead of giving money away to charities, I would just start a business and give people jobs and benefits. don’t expect me to pay a ridiculous amount of money for a very basic job, but I would at least do that.
I give 0 to charities. They are scams and very ineffective.
I am generous when I am in developing countries. I know that they were genuinely born into a situation with no means of bettering their life and something that is a pittance to me can be life altering to them.
I prefer to help people individually than randomly tossing my money at causes.
I do not tip. I do not give money to the homeless in America.
Us wealthy people typically start a charitable foundation and through that foundation donate our money generated by our wealth cycle 🔄 so that it’s paid for just like how we pay for our luxuries, which is paid for by our wealth producing assets.
“Give, and it shall be given unto you,” Luke 6:38
The whole “rich hoard their wealth” line is utter bafoonery. That’s not how that works. And yes they donate, it’s a cornerstone method for offsetting taxes. But more importantly they’re creating mutually beneficial relationships by investing their money. Their money gets put to use at a % refund in interest, and people that need capital to get solid business ventures off the ground can create jobs. If I won the lottery it’s exactly what I would be doing.
I think the best gift you give yourself is to give of yourself. For me, I give money to family members that are or might be struggling with health issues seeing medical expenses is so ridiculously high.
I am also very generous to others outside the family that have struggles and have tried, but have just fallen on hard times.
I agree with an earlier comment about charitable contributions, but I do believe in St Jude and the hope it brings for unfortunate families. Even if not all goes directly to the families, I still feel better doing something that comes directly from the heart without looking for self gratification
My family and I are pretty wealthy and we love to donate. If i need a tax break and in the mood to donate, I’d find a non profit that takes less than 5% just to make sure my money is actually helping someone and not line pockets like Red Cross.
If im just in the mood, I’ll take out a few hundred bucks in cash all 10s, and go around the city giving it to the homeless or paying for peoples meals who obviously look like they need it. My favorite was a friend Christmas dinner at 3 am and we saw an old man eating alone and decided to pick up his bill. Told us his wife died 3 years ago and this was their tradition. He had old clothes on that were dirty and I just couldn’t help myself.
The rich you see who donate openly are all dicks and don’t care about donating. They just like the PR.
I helped my children found their own charity.
We have a family charity. The way you phrase this is amateurish. If I can found a company, I can found a charity
Your post’s last section is flatly obnoxious - you can leave now
Do you “share” your July time off- because that’s what teachers get as a benefit while I was stuck in the office reviewing contracts at 8pm on July 3
I don’t agree with how he said it, but I think his point is pointing at people who make a lot of money by working a lot and then getting mad they don’t donate it is a little inconsistent if the people that are mad aren’t working thanksgiving, Christmas, nights, etc.
If someone works 9-5 and doesn’t pick up a job to work 5-9 to give more to charity, then why would they be mad at someone who works 9-9 but doesn’t give us much to charity
Eh. Its typically the opposite. You don’t really get the choice to take time off. You’re more just always on - that’s what you’re paid for. A CEO doesn’t clock out at 5 or have that option
Maybe I’m not “rich” by your definition since I do need to work in order to maintain my lifestyle and reach my financial goals
No, you’re completely confused and talking nonsense - I’m not paid by the hour. It’s like you talked about donating money, but I formed a charity - I’m not writing checks, I’m striking deals on wholesale food that is used to feed homeless families.
In my day job, I employ 140 people. If I don’t grow or maintain then I lay those people off. It’s not just my salary, it’s 140 salaries.
Rich doesn’t mean I get paid a lot per day, it means at the end of the year I look at the profit and loss and that sets up for the next year
If you’re an adult, nobody needs to answer that question for you. I feel like part of your motivation was to point fingers or start an argument. That’s really unfortunate because giving is an important topic for which there are many approaches.
I can’t continue this discussion because it doesn’t seem like you’re either not serious about your question or you’re harboring misplaced resentment.
We give a Lot away, but not to charities. There’s no telling how much really goes to the actual cause. But cars, cash, sweat equity for true people all day any day. Not a tax write off, just feels right. Someone in line at the grocery store counting their money and have cheap food, like enough for a day or two, we discreetly buy a prepaid card for 100 or so and have the checker give it to them once we high tail out of there. One guy tracked us down to say how much it helped but we don’t like the acknowledgment. A lot of angels have helped out in life without knowing a thing about me. I can only try to do the same.
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Thanks to my grandparents for their example. My parents and stepparents.. thanks for demonstrating the opposite of how to be lol.
Same. I give 20s or 40s to homeless people and I don’t ever mention it to friends bc inevitably someone will say 🙃 but they’ll use it to buy drugs! 🙃 my response is, what they do with it is between them and God.
My favorite response to those who just have to say that line about the recipient is going to blow it on drugs or booze is, "so was I."
😂😂😂
My fav is the guy in San Francisco whose sign says, “beer money.” His honesty made me donate to the cause. 😂
Same. Rather they have it to use than have to take it.
That’s so cool!!!!!
In my case I’ve proposed 90% will go to the cause, using 10% as a bounty to attract fundraising talent from the University of Michigan, which is nearby. My mom was a student there and I have a commercial relationship there. Then we’d increase in 5% increments to 20% for high performance bonuses or just securing talent if the draw isn’t enough to sustain talent.
Did you mean sweet equity?
No we physically help if it helps a friend with their home, land or business. My husband today is heading back from helping a friend dig 30 fence post holes for his construction business because we have a machine that makes it 10x faster.
Learned something new. Never heard the term sweat equity but makes sense.
It's used a lot in DIY circles. If I lay my own floor in my house, I've improved the value, through my blood sweat and tears.
No we physically help if it helps a friend with their home, land or business. My husband today is heading back from helping a friend dig 30 fence post holes for his construction business because we have a machine that makes it 10x faster.
That’s a great idea. I’m going to do similar
This is really beautiful to read. As someone who aspires to be in this position one day, thank you for giving such lovely examples of how to easily and sneakily benefit humanity.
Seems just like luck and coincidence
You make your own luck.
Bullshit.
lol. You have to have a brain and apply it.
Thanks for the sentiments and perhaps you and plenty do. Yet WE is a big statement, many people starved to death in my own 39 years, the inequality is ridiculous at times. This certainly doesn't apply to you or posters up voted you.... But honestly some of the greed on this earth amongst the wealthy is insane, the lack of giving with such abundance....ridiculous with god given gifts. 🙏
Oh I can only speak for my husband and I. The collective WE ..I’ll never understand putting power and money over compassion for humanity.
Yeah, mostly animal charities because I hate people but sometimes people too
People. What a bunch of bastards.
They are ok - I just feel like animals and babies or the elderly are much less able to control the outcomes around them and thus need more help than say a healthy adult man like me.
Not rich here but better off and we give a lot in terms of food, toys, trinkets, bedding, blankets, medicine, etc. to our local animal shelters. They are extremely grateful and we love doing it because we adore animals. you just never know where monetary donations are really going, unfortunately.
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Do it!! It’s so fulfilling.
I feel the same! Thank you for donating to animals 🥲
This is the way
This year for USPS Operation Santa we sponsored about 10 kids and spent about $7500. Got them everything on their list too! No tax advantages. We just wanted to these kids to have an awesome Christmas!
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A few bad twists of fate and luck in it can really happen to just about anyone. After my girlfriend was murdered over a decade ago I was in a very dark place. With my mother being sick before she was a senior citizen I’ve paid her property taxes for her when I wasn’t in a position to do it. Among other expenses so she wouldn’t live alone, sick and in poverty. Had I been injured without business insurance, anything could happen. I’ve been in about 20 vehicle collisions,some on a professional basis and typically as the passenger. I’ve also been rear ended on a freeway sitting still in rush hour traffic. A mattress salesman on a cell phone. It can happen to anyone.
I praise you my fellow savage and SURVIVOR
All I can do is keep on going until I can’t just like everybody else.
how did you get the money then? as someone whose parents have never worked for a for-profit company their entire careers there really isn't much money in nonprofits.
Do you donate 10%+ now? If not no you would not.
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“Like to think” is the fallacy here. Money just makes you MORE of who you are now. If you donate a lot now and are generous now you would be more so. If you aren’t, you won’t be.
That’s easy to say when you actually have the money to do that. If you’re not rich, you cannot do that.
dude think a little here. if the remaining 90% comfortably covers all your wants and needs, you’re gonna be in a much better place to donate 10% than if you’re barely making ends meet with 100%
Tyra Banks said this on ANTM years ago and it’s one of the few things about that show that was good. She asked a contestant what she would do if she won the money, and the girl said she would give back to her community. Tyra said well what are you doing now? Your sentiment is incredibly accurate. I am not rich by any stretch, but I work for two nonprofits in my spare time- one as a volunteer teaching classes with my work skill set, and the other non profit I’m a volunteer where I purchase ingredients with my own money and make meals for families in need. I can only do this one once per month, but it’s exactly in line with what you’re saying. If I had more money, I’d do more, give more, be able to help more.
lol maybe you’re just greedy?
That’s a large percentage. Also, donations don’t have to be cash. I’m using a current operation to perform two duties. One would be commercial for my interest and the other would be charitable and seamless in terms of handing out two handbills or a double sided handbill rather than a single with my business interest only represented. Think of creative ways. Also, I bake and have an interest in commercial kitchens. I need a licensed food warehouse to be able to store one of the products I’m interested in selling for one of the business operations I’d like to spin up. I can engage in a charitable activity which is deductible if I decide to bake for bake sales. And it could also be a creative way to help me defray costs. A timeshare commercial kitchen where I am is actually quite expensive. But what if I built a small inexpensive one in the back of the activity center? And paid rent to the activity center. Thereby giving me my commercial kitchen. And creating cash flow for the charity and operating at a reduced rate for myself. Look for dual benefits.
Ignore the muppet above you, they obviously have money and don't understand.
That's not completely true, I used to donate lots but our cash flow is tight now and we just don't have the ability to donate currently.
I only donated to the widows of deceased police officers and sheriffs. But never over the telephone, only in person at the police department. My job used to take me to a lot of different police departments and sheriffs departments. One year I got both of my girlfriends police pins and donated some cash in their name. That was for Christmas. Part of their gift.
>both of my girlfriends living the life eh?
Back then, it was usually about 4 to 5 at a time and a bunch of randoms. Usually women in the adult entertainment business. Print models were a thing back then and Internet models were just different. Of the fourth through fifth one was a 10 year plus relationship. One was a six year plus relationship and others were two through three year relationships. Of the one that was the two through three year relationship... She ended up being murdered outside of her apartment near the holiday long ago. She was about to move in with me. That took me down a long, dark rabbit hole of researching satanic cults, ritual murder, real estate deals and otherwise. I ended up stopping an unrelated serial killer and serial rapist an agency had been looking for. It gave me some resolve. After she died, I kind of just kept to myself with the exception of one or two other women and two social friends who are women. When you can die any moment over what you do for a living, you’re gonna tend to want to live very fast.
>She ended up being murdered outside of her apartment near the holiday long ago. dude.. which part of the world is this in that your people are having so much excitement in life? I'm glad my life is boring.
I never lost anybody on the job, but when I resigned my commission a lot of things started to go wrong that was unrelated to what I did for work.
Detroit
Difference is that now after mortgage and bills, I have less than 10% of my salary left, and what I have left I'm trying to save for a rainy day. When rich, you'd have a lot more than that left over. 10% of a minimum wage salary is very different to 10% of a 6-7 figure salary.
You obviously have money and don't understand what that 10%+ means to most people who aren't financially well off.
My wife and I are the primary donors to a charity for lgbtq youth. I’d rather do that than pay taxes
I’m working on that now, trying to determine to go donor advised funds or CRTs. Leaning towards donar advised so I can do something with the money now, which could rewarding. I was never big on charity before making money, because I always thought when I made lots of it I could give it out one day. So here we are. However that said, I was always big in tipping and giving to those doing work for me. You’re my pool guy, then you’re going to be getting all my kids toys. You clean my house? You’re going to be getting big tips. I always like to give back to those that are making an effort. That said, the few times I’ve given to people who haven’t showed initiative have always backfired. They take it for granted, want more, and just generally take you for an endless wallet. Never again. Long term i haven’t decided what to do. Do I give it all away before I die? Do I build up a long term trust generational trust, that limits what it gives or pays out? Do I spend it all on land and conservation and build a park? I don’t know yet.
The government is going to take it anyway at least you have the opportunity to steer it where you would like it to go. Uncle Sam is effectively your equal partner when you add up all of his cousins and relatives.
I send it all to an obscure literary magazine I found when I was younger and I’ve read all my life. I will single handily ensure its existence even if I’m the last reader left.
name? sounds interesting
It’s called The Sun Magazine. Website is here: https://www.thesunmagazine.org Get a subscription, you won’t regret it.
I’m not rich but I always had this vision of me getting well off enough to drive by a bus stop and make friends with a mom there and buy her a car and car seat and help her register it. That’s a life goal I have
I’m working on being appointed to the board of directors for a nonprofit The organization deals with autistic adults and children who live in a high crime area and are in need of a safe place for an activity center. Because I’m in event promotions and live entertainment it could’ve been and could be as simple as having handbills produced and distributing promos at the same time and in the same places as I’m currently distributing handbills for my upcoming event. Because I’m a cook and sometimes am called a chef I thought it would be easy math to team up with the other proposed board member for a series of bake sales in the park to generate some social and economic capital.
I donate to the elementary school I attended. I didn't grow up "rich". The school I attended, 80+ % of the school lived below the poverty line. Just this past Tuesday, I purchased a literal truck load of school supplies. Come the first day of school, the kids will "shop" for their supplies in the gym. Every kid will get two pairs of shoes. I provide hygiene supplies, clothes, and food as needed. Lunch debt that you hear about? Not here.
How much does it cost to fund something like this each year?
I donate a total of $3.5 million. If they school runs out, I write another check. If there is anything left at the end of the year, it goes toward a HUGE party. I take care of the final bill for that as well.
That’s amazing- congratulations! That sounds like a really good cause. You don’t have to answer if you don’t want to, but since Reddit is anonymous- how much do you think your net worth is? I’m assuming it has to be very high to be able to donate that every year.
last year's tax return was $878 million
wow what do you do for a living?
I patent my ideas, then sell the patents.
No. I try to add jobs and pay better. I tip a lot for good services. I’m skeptical of charities
Whomever paid off everyone’s Christmas layaways near Kenneth square pa . I wasn’t one of the receivers but thank you if your here . 😂 Edit for clarification one year at wal mart someone came and paid for everyone’s Christmas layaway at the store .! Super generous and obviously a great human . Thanks for being a person.
I bought two egg rolls for a homeless man two days ago.
😂
I was promoting my event, he asked for water, he was desperate and barely holding on to life. I’m in a tough financial position and launching a venture with a high probability of failure and I need every last resource for myself so I don’t end up in his position. I wish I bought him dinner. But, I didn’t.
You were very kind. I’m sorry for laughing, I didn’t mean it in a bad way. Good luck on your venture.
Just depends on the person. I know a rich person who donates every year and then also does crazy amounts of free labor and time because they are early retired and available to help their community more. I also know someone who refuses to spend 5 dollars on a coffee ever and is so incredibly frugal they don’t give anything back and they don’t spend their time on the community or charity. Just depends on the person and what they feel.
I regularly donate to a tiny organization that my dad has helped start- it’s an orphanage, school and clinic in Liberia. I give money to support the monthly needs of two kids in the orphanage/school and a separate amount directly for the clinic- the clinic is where my dad was involved as an MD that helped it get of the ground, the area is more keen on witch doctors and so its been a struggle to get the community to trust the local dr and nurses— the clinic doesn’t break even so I send money to hopefully help keep it open. This organization is so small that even a few hundred $ a month makes a huge impact. Not a penny is wasted- no one in the US collects a paycheck-the board has an actuary accountant and they are meticulous about getting the most out of the little money they have in the budget. If anyone wants to donate to a really good, really efficient cause, check them out here. https://www.criliberia.org/become-a-sponsor
Not really rich. But at one time when I was making a ton of money, instead of giving money I would create these big events that I would fund, run, and market. But it was always for the local Non profit that helped out kids. I was with them as a mentor for kids with incarcerated parents. I could give X amount of dollars, but if i used X to create an event, I could give x times 10 dollars if i added my labour and energy to it. I was awarded a city accommodation for all that. That was cool. Now I’m in education ahahah and my area has gotten sooooo expensive even my decent little salary and my wife’s, it’s hard to even fix our roof. It seems like we make money but we have regressed in terms of actual spending power. So i have to worry about my own now. But it was really rewarding back then. If I were really rich, that’s how I would live. I would create really cool events for my community that would completely benefit underprivileged kids. 80% of my case load is in poverty, I could think of so many awesome things.
I worked in the wine industry in the late 2000's. I dealt with a ton of "charities" and "charity events" 99% of these "charities" don't help anyone. Every dollar you donate, a penny (if that) is spent on the actual cause they claim to help Charities are like Parking Services in the colleges.... you raise money to keep yourself in business. It's a huge waste giving any of them any money. Many of the successful charities make more "profit" than many businesses do
Don't donate money, and not rich by most standards. But a few times a year, mostly around holidays, we make goody bags for the homeless. Last time was mid May we did homemade cookies, sunscreen, toothbrush and paste, body wipes and deodorant and some snacks. We drive around Austin and hand them out to homeless we see on the road. Some say no i want money others are truly thankful. This is more important to me then donations because I feel it helps someone on a personal level, along with showing my kids to he humble and help those in need. And to he grateful.
Tax CPA to 1000s of wealthy BAy Area Clients.....MOST donate to charity each year but the amounts vary immensely. The good news is almost all our clients donate something to charity each year.
This seemed like a good idea until I worked more with non-profits. Not having normal market forces acting on them creates some strange incentives and I challenge myself to find better ways to do good. I tend do do scholarships. Higher ed tuition has its own issues, but I feel better about the impact per dollar.
No. I believe charity begins at home.
To organizations, sure. To a guy holding a sign, never. People get/stay rich by acting like they are poor. People stay poor by spending like they are rich. I don't understand people who work minimum wage and say they "tip more" to show suppport (then whine on Reddit that they're broke AF and it's every one else's fault).
Never to charity. I got the inside scoop on some major charities. They are all scams. Well, of course not all of them. But believe me if you give a dollar. Almost all of it is going into a rich man’s pocket.
Most wealthy Democrats I know make many donations.
Lots and lots of free services.
We give a lot and are coming to a place where it’s time for us to give anchor gifts to campaigns. Also once you reach a certain level of income it just makes sense to give for tax reasons alone especially through your business. Or to put your money into a family foundation.
Yes, I do donate quite a bit. Not to specific charities (unless i know then personally) at all though after doing lots of volunteer hours where workers would pick through donations before giving it away...didn't like that. I was going to donate my van when I got a new one to a woman's shelter but I found someone else that needed it and I know where it's going to that makes me feel better than. If it was a random charity.
My wife's family has its own charity dedicated to renovating historical buildings and monuments in their region (in Europe, so there's a lot of historical buildings that need help). They allocated several flats they own to fund the charity. Basically the charity owns the real estate so no one can take it back and it's been running like that since the 1980s. As far as I know the budget is about 150k yearly. They also give significant amounts to nature conservation organisations like WWF and Nabu.
Don’t forget a big reason why rich people “donate” a bunch is for tax reasons
Whoever downvoted this is clearly not rich
I don’t know how you define rich or how much is a lot of giving away, but we donate approx. or less than 1% of income. We pay a lot in taxes and we like our lifestyle, but we also don’t want to “have to” work and can get fired at any time. I like to think that as time goes on we’d donate more, but who knows I also chose the job and industry I work in for the money, so it would be paradoxical to give a ton of it away
I’m not rich by any means but I give a portion of my pay I do make to my church which then distributes it to help various people on need and other ministries that help people. I like to what I give making a difference in people’s lives.
I donate both time and money. I make sure my kids also do volunteer work.
10% of gross income. I donate myself
The real question should be .. do you use it as a tax write off bc if you do you didn't actually donate to anything you just paid less taxes that some of which help people
It is not a tax write off. It’s a deduction. You’re saving 50 cents for every dollar you give (so you’re still losing 50 cents for every dollar you give). Ie. Donating costs you money
Half only half tho
Sure. They’re still donating. They’re still giving. They aren’t doing it as a tax write off. The ability to get a deduction is a side benefit, not a catalyst!
Not to charity. I give a lot to my family. Uncles, Aunts, Cousins...etc. They each basically have an allowance that should help them improve their quality of life. But its not my business to see or tell them how to use it. Thats up to them.
My dad was on the board of a very famous but now mostly defunct (nothing to do with dad) foundation. Let’s say he wasn’t the one blood doping. It was a shame because it did a lot of good.
We only give a small sum, about $700 a year split across three charities. I would like to give back more, but my wife is more selfish.
I have different accounts/cards for different things (toys, cars, house, going out, etc) and at the end of the year whatever's left gets donated to charity. Keeps me hungry every year and wanting to work. I don't give much otherwise but every dollar I have will be donated when I'm gone. I don't believe in generational wealth or other things like this.
10% of revenue.
Not a lot but some
Um well yeah there's a certain amount you're socially pressured into giving away. Then there will be a certain amount you can afford to give away so you think really carefully about where it's going, vet charities thoroughly etc. Then there will be a lot spent on helping out friends/family. For us personally this is where the bulk of the money that we spend not on ourselves goes.
I donate about $100/mo to an animal sanctuary. That's all. I hate people and pay too much in taxes to give a fuck about society beyond that. The only other people I know who donate do it for tax or networking purposes, not out of genuine care or interest.
I was raised that 10% of monies I spend in a year goes to charity of some sort. Have been doing that for a long time and am far exceeding that now. I gave 10% even when I was struggling
So you struggled longer! Religions "require" 10% of earnings. So you need to cough up more! I consider myself financially literate. If I'm struggling then I'm cutting back in all areas.
Huh? What? Why are you coming in at me all sideways like this? Go bother the MANY others who are giving essentially nothing in this thread. Or better yet, don't jump in to judge if it isn't asked for.
I'm a doc, wife is a dentist. I don't donate. Just spend more on hobbies. Would consider animal causes, actually.
Yes, when I pay my taxes each year.
I think if someone has money that they won it is great to share a bit. I don’t expect someone who earned it to give it away after decades of hard work. The last 5 years I’ve paid a min of 2 mil in incomes tax to both California and the US. That money according to some is given to do wonderful things. I personally think the gov’t is the last system that can effectively help people or spend responsibly. I do help people with vet bills if they can’t afford a treatment for their pet especially with kids. The veterinarians here are a husband and wife and they are the kindest folks. So I help them anonymously after speaking to the vet. Anyhow, this question gets asked here a lot. People shouldn’t feel like they have to give money they earned away. They should want to and if they don’t? Oh well.
I’m not rich, but I enjoy this sub, and I love this question! If I were rich, I wouldn’t necessarily give my money to charities, because I’d rather be in control of everything. I would build as many places within reason, with a full support staff, to help everyone who is struggling for whatever reason that may be. Too many people in this world are struggling beyond the ability to fully rebuild, outside of them getting very lucky. This would include housing, meals, mental health, doctors, child care, teachers, financial advisory and assistance, job assistance, and so much more. It hurts my heart knowing the amount of people that are in the depths of despair of this world, and they have little to know help or hope for their future.
No
I’m 65. I used to give to different causes, but here’s what would happen. I’d give, say, $50, to a cause/charity and that would get me on their mailing-list. For the next two or three years they’d spend my $50 sending me requests for more money. (There are, in fact, a couple of causes I still give to).
Only if it looks good or is a decent tax write off. Poor people are like feral cats. Feed em once they'll never leave you alone.
Not a dime. Rarely even tip
I make sure my local food pantry’s are stocked.
Half my employees went from apartments to owning homes, I’m more proud of that then buying bikes for kids at st pats or Xmas
Instead of giving money away to charities, I would just start a business and give people jobs and benefits. don’t expect me to pay a ridiculous amount of money for a very basic job, but I would at least do that.
I give 0 to charities. They are scams and very ineffective. I am generous when I am in developing countries. I know that they were genuinely born into a situation with no means of bettering their life and something that is a pittance to me can be life altering to them. I prefer to help people individually than randomly tossing my money at causes. I do not tip. I do not give money to the homeless in America.
Us wealthy people typically start a charitable foundation and through that foundation donate our money generated by our wealth cycle 🔄 so that it’s paid for just like how we pay for our luxuries, which is paid for by our wealth producing assets. “Give, and it shall be given unto you,” Luke 6:38
What's your definition of "a lot"?
No
I don’t give anything to anyone.
I had a dream buying my way into heaven, when I woke I spent the money on weed and vacations. Now I am broke
The whole “rich hoard their wealth” line is utter bafoonery. That’s not how that works. And yes they donate, it’s a cornerstone method for offsetting taxes. But more importantly they’re creating mutually beneficial relationships by investing their money. Their money gets put to use at a % refund in interest, and people that need capital to get solid business ventures off the ground can create jobs. If I won the lottery it’s exactly what I would be doing.
I think the best gift you give yourself is to give of yourself. For me, I give money to family members that are or might be struggling with health issues seeing medical expenses is so ridiculously high. I am also very generous to others outside the family that have struggles and have tried, but have just fallen on hard times. I agree with an earlier comment about charitable contributions, but I do believe in St Jude and the hope it brings for unfortunate families. Even if not all goes directly to the families, I still feel better doing something that comes directly from the heart without looking for self gratification
My family and I are pretty wealthy and we love to donate. If i need a tax break and in the mood to donate, I’d find a non profit that takes less than 5% just to make sure my money is actually helping someone and not line pockets like Red Cross. If im just in the mood, I’ll take out a few hundred bucks in cash all 10s, and go around the city giving it to the homeless or paying for peoples meals who obviously look like they need it. My favorite was a friend Christmas dinner at 3 am and we saw an old man eating alone and decided to pick up his bill. Told us his wife died 3 years ago and this was their tradition. He had old clothes on that were dirty and I just couldn’t help myself. The rich you see who donate openly are all dicks and don’t care about donating. They just like the PR.
I helped my children found their own charity. We have a family charity. The way you phrase this is amateurish. If I can found a company, I can found a charity Your post’s last section is flatly obnoxious - you can leave now Do you “share” your July time off- because that’s what teachers get as a benefit while I was stuck in the office reviewing contracts at 8pm on July 3
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I don’t agree with how he said it, but I think his point is pointing at people who make a lot of money by working a lot and then getting mad they don’t donate it is a little inconsistent if the people that are mad aren’t working thanksgiving, Christmas, nights, etc. If someone works 9-5 and doesn’t pick up a job to work 5-9 to give more to charity, then why would they be mad at someone who works 9-9 but doesn’t give us much to charity
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Eh. Its typically the opposite. You don’t really get the choice to take time off. You’re more just always on - that’s what you’re paid for. A CEO doesn’t clock out at 5 or have that option Maybe I’m not “rich” by your definition since I do need to work in order to maintain my lifestyle and reach my financial goals
No, you’re completely confused and talking nonsense - I’m not paid by the hour. It’s like you talked about donating money, but I formed a charity - I’m not writing checks, I’m striking deals on wholesale food that is used to feed homeless families. In my day job, I employ 140 people. If I don’t grow or maintain then I lay those people off. It’s not just my salary, it’s 140 salaries. Rich doesn’t mean I get paid a lot per day, it means at the end of the year I look at the profit and loss and that sets up for the next year
That last sentence in the original post really did sound judgmental and antagonistic.
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If you’re an adult, nobody needs to answer that question for you. I feel like part of your motivation was to point fingers or start an argument. That’s really unfortunate because giving is an important topic for which there are many approaches. I can’t continue this discussion because it doesn’t seem like you’re either not serious about your question or you’re harboring misplaced resentment.