Lot of folks here blessed with amazing compensation. Even though my comp isn’t anywhere close to majority of the numbers mentioned on Blind, I do find myself saving enough to be able to make some kind of meaningful contribution each year. I am looking for inspiration. Do you donate X% of your income or simply $X to any cause each year? How do you ensure the highest impact for every dollar donated? The X here could be any modest number. What are some of the institutions you trust your money with? Could be domestic or international. Do you have any suggestions for places that do out of the box thinking to make a long term impact on a cause that you care about? I understand if this isn’t feasible for someone saving up for a home, have dependents, looking to retire early or any other reason. I am just looking to hear from people who do indulge in some form of philanthropy.
Give to charities that actually work for the less fortunate and the needy such as the ones working with refugees in war torn countries or providing clean water in countries where people struggle to get clean drinking water, help the orphans - sponsor them and take care of them, invest in those causes that people will continue to benefit from even after you're gone
I donate to the Wounded Warrior Project, Disabled American Veterans, and USO.
Usually ~$5k/yr to one of the organizations recognized by GiveWell.org
Look into company matches as well. At Microsoft it's 100% dollar match.
If you’re an experienced professional, donating your time is a lot more valuable than your money IMO. Teach someone to fish. Mentor them. There are “charities” out there that spend >90% on “administrative expenses”. so much bullshit.
I’ve tried donating my time, but the kids I’ve taught we’re all already privileged. And some people, like most of the homeless, have disabilities which prevent them from benefiting from any mentoring I can give. All people need a place to sleep, but many don’t have it. People in tech have money. We should support those in need with it.
I give away way too much because I get 'too involved' with the local charities and see what a difference 10k makes to them so I want to give 20k etc. Takes a lot of effort to stay under 50k/yr at this point. Edit: I meant to make the point that I encourage people to support local charities/communities but there the risk of getting carried away ..
I make good contributions to my cocaine dealer
My wife and I make 400k combined tc. We donated 35k last year. We try to get the biggest bang for our buck, so we mostly give to charities in developing countries. I like diversifying to avoid the possibility that all the money is wasted by one bad charity. But we also give to organizations which help the local homeless. On our income, we don’t miss the money at all. I like the idea of living off a fixed income eventually and donating all the extra money. For now, we’re saving for a house.
Do you know of any good agencies that do due diligence and validate the charities in developing countries?
What I started doing this year is keeping myself to a fixed income of $100k/year. Essentially I take $3,500 from each paycheck + each bonus (28 checks). I’m saving ~25k to retirement + kids college fund. The rest I give away. ~50% goes to my church and the rest goes to a mix of other causes that I care about or am connected to. What has been amazing for me in this system is that the weight of money has been lessened to a large degree. It does not matter whether FB stock does well or tanks because I give all of it away. I do not have to strive after extraordinary performance reviews because it does not matter, I don’t need the extra money. In part, it has put a practical safeguard for me in the enjoyment of money and things.