Join Early Retirement Today
View Poll Results: Did you faithfully tithe/give money away while saving for the retirement?
I didn't give a penny? 29 23.20%
I gave less than 10% 75 60.00%
I gave 10% 8 6.40%
I gave more than 10% 13 10.40%
Voters: 125. You may not vote on this poll

Reply
 
Thread Tools Search this Thread Display Modes
Did you tithe while saving for FIRE?
Old 04-12-2007, 10:44 AM   #1
Recycles dryer sheets
 
Join Date: Jun 2006
Posts: 133
Did you tithe while saving for FIRE?

Every month I give away $1000, and save $2000. I refuse to stop giving, because I feel I have been lucky. As Warren Buffet says, I won the womb lottery. But secretly I wish I could invest 100% of my income.
__________________

__________________
rw86347 is offline   Reply With Quote
Join the #1 Early Retirement and Financial Independence Forum Today - It's Totally Free!

Are you planning to be financially independent as early as possible so you can live life on your own terms? Discuss successful investing strategies, asset allocation models, tax strategies and other related topics in our online forum community. Our members range from young folks just starting their journey to financial independence, military retirees and even multimillionaires. No matter where you fit in you'll find that Early-Retirement.org is a great community to join. Best of all it's totally FREE!

You are currently viewing our boards as a guest so you have limited access to our community. Please take the time to register and you will gain a lot of great new features including; the ability to participate in discussions, network with our members, see fewer ads, upload photographs, create a retirement blog, send private messages and so much, much more!

Re: Did you tithe while saving for FIRE?
Old 04-12-2007, 11:00 AM   #2
Recycles dryer sheets
 
Join Date: Mar 2007
Posts: 160
Re: Did you tithe while saving for FIRE?

For many years now, we have followed the practice of taking 10% off the top of whatever income or windfalls come to us and setting it aside for charity. It's not really any kind of religious thing, just our way of saying thank you to the Universe for our blessings, and a way of giving back.

We don't put the money in a separate bank account, but since we keep track of every penny of our income and our spending, it is a simple thing to transfer that 10% when it comes in to the "spirit" account page.

Once that money is on the "spirit" page, it doesn't belong to us any more in our minds, so it is easy to write checks or give away cash from that amount. It doesn't feel like it is taking away anything from us as we have no more rights to that money anyway.

On the heading for that page, we have this quote, "Everything is alive, everything is interrelated; all is sacred. Sharing fully of what we have in every sense completes the spirtual loop. It's our way of saying thanks to the Universe."

Some years that account page ends up in a negative balance, and we have given away more than 10%, and that is fine, but at the end of the year, if there is a positive balance, we sit down and disperse that money to start over again on January 1st.

Whatever goes around comes around, and we would prefer to err on the side of generosity than not.

Throughout life we have seen so many grasping people with the mental disease of "not enough". Sometimes they were even people with a great deal of money. The discipline of giving away money and practicing generosity is a wonderful antidote for that. It creates a feeling of abundance in your life, and a secure feeling of having enough.....in fact, having such an abundance that you are able to give a portion of it away. Nothing does better for that fear of "not having enough" than this practice.

That's our system, anyway, and it works for us.

LooseChickens
__________________

__________________
loosechickens is offline   Reply With Quote
Re: Did you tithe while saving for FIRE?
Old 04-12-2007, 11:10 AM   #3
Thinks s/he gets paid by the post
happy2bretired's Avatar
 
Join Date: Mar 2007
Location: Nebraska
Posts: 1,340
Re: Did you tithe while saving for FIRE?

Loosechickens...I really like your idea.
__________________
happy2bretired is offline   Reply With Quote
Re: Did you tithe while saving for FIRE?
Old 04-12-2007, 11:11 AM   #4
Recycles dryer sheets
 
Join Date: Mar 2007
Posts: 121
Re: Did you tithe while saving for FIRE?

Yes. "He owns the cattle on a thousand hills." Live by His rules and He will pour out blessings more than you can contain.
__________________
hogtied is offline   Reply With Quote
Re: Did you tithe while saving for FIRE?
Old 04-12-2007, 11:28 AM   #5
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
 
Join Date: May 2004
Posts: 11,615
Re: Did you tithe while saving for FIRE?

Since you used "tithe" and the 10% yardstick, I figured you were referring to religious giving. Nope.

We gave a lot to charities.

One note: if giving less cash today gets you to ER faster, you may be able to start giving more time at an earlier date. That can be a valuable commodity to some charities.

__________________
"Freedom begins when you tell Mrs. Grundy to go fly a kite." - R. Heinlein
samclem is offline   Reply With Quote
Re: Did you tithe while saving for FIRE?
Old 04-12-2007, 11:44 AM   #6
Recycles dryer sheets
 
Join Date: Jun 2006
Posts: 133
Re: Did you tithe while saving for FIRE?

Quote:
Originally Posted by loosechickens
Throughout life we have seen so many grasping people with the mental disease of "not enough". Sometimes they were even people with a great deal of money. The discipline of giving away money and practicing generosity is a wonderful antidote for that. It creates a feeling of abundance in your life, and a secure feeling of having enough.....in fact, having such an abundance that you are able to give a portion of it away. Nothing does better for that fear of "not having enough" than this practice.
Sounds like wisedom! nicely put.
__________________
rw86347 is offline   Reply With Quote
Re: Did you tithe while saving for FIRE?
Old 04-12-2007, 11:48 AM   #7
Recycles dryer sheets
 
Join Date: Jun 2006
Posts: 133
Re: Did you tithe while saving for FIRE?

Quote:
Originally Posted by samclem
One note: if giving less cash today gets you to ER faster, you may be able to start giving more time at an earlier date. That can be a valuable commodity to some charities.
Warren Buffet said something simular. I worry that I would never repay the IOU.

Over time I have realized that money is 2 parts psychology and 1 part math. Like "LooseChickens" I feel like this is a health issue, that keeps me in check.
__________________
rw86347 is offline   Reply With Quote
Re: Did you tithe while saving for FIRE?
Old 04-12-2007, 12:03 PM   #8
Recycles dryer sheets
Deetso's Avatar
 
Join Date: Dec 2006
Posts: 82
Re: Did you tithe while saving for FIRE?

I've found that once I started making money to the point where I was buying more than video games and pizzas- and actually started saving it and tracking it that I really enjoy being able to give it away. I dont make much now but I give away more than I save at the moment. (that doesnt count paying student loans which i do more than saving or giving away). My giving habit started out as soley... give 10% to the church... and has expanded to something even more. My habit has turned into a lifestyle- its been great.

I think it is quite freeing and actually I feel better about giving my money away (be it a charity or tithing) than anywhere else I put my money. I find myself second guessing purchases (I dont really need more socks- i can wear those ones a little longer) but if I give my money to a child in Ghana, or buy some clothes for a girl down the street- there is nothing better.

I credit LBYM for allowing me to do this. I couldnt do this with the latest cell phone, ipod or HDTV. Saving for my future and helping someone get to theirs is better than any toy.

Not only that- I have found that I am well ahead of my peers when it comes to saving as well. Even though I give I still always seem to have money to put away. Its a wonderful system, its quite difficult to explain to some people- but that is another post...

Ok- Ive gone on for long enough...
__________________
Deetso is offline   Reply With Quote
Re: Did you tithe while saving for FIRE?
Old 04-12-2007, 12:41 PM   #9
Recycles dryer sheets
 
Join Date: Jun 2006
Posts: 133
Re: Did you tithe while saving for FIRE?

Quote:
Originally Posted by Deetso
I've found that once I started making money to the point where I was buying more than video games and pizzas- and actually started saving it and tracking it that I really enjoy being able to give it away. I dont make much now but I give away more than I save at the moment. (that doesnt count paying student loans which i do more than saving or giving away). My giving habit started out as soley... give 10% to the church... and has expanded to something even more. My habit has turned into a lifestyle- its been great.

I think it is quite freeing and actually I feel better about giving my money away (be it a charity or tithing) than anywhere else I put my money. I find myself second guessing purchases (I dont really need more socks- i can wear those ones a little longer) but if I give my money to a child in Ghana, or buy some clothes for a girl down the street- there is nothing better.

I credit LBYM for allowing me to do this. I couldnt do this with the latest cell phone, ipod or HDTV. Saving for my future and helping someone get to theirs is better than any toy.

Not only that- I have found that I am well ahead of my peers when it comes to saving as well. Even though I give I still always seem to have money to put away. Its a wonderful system, its quite difficult to explain to some people- but that is another post...

Ok- Ive gone on for long enough...
Nice! I know what you mean.
__________________
rw86347 is offline   Reply With Quote
Re: Did you tithe while saving for FIRE?
Old 04-12-2007, 12:42 PM   #10
Full time employment: Posting here.
 
Join Date: Jun 2006
Posts: 718
Re: Did you tithe while saving for FIRE?

I give clothes/items I dont use anymore to the Good Will. However I rarely make any monetary donations. Like last Christmas we collected toiletry's for the homeless and womans shelter. Never straight cash though because I never trust what it will be used for.
__________________
Mwsinron is offline   Reply With Quote
Re: Did you tithe while saving for FIRE?
Old 04-12-2007, 01:04 PM   #11
Recycles dryer sheets
 
Join Date: Oct 2006
Posts: 80
Re: Did you tithe while saving for FIRE?

Charity is among the most important themes in my life at ths point. DW and I have been extremely fortunate and both agree we have much we owe this world. The amounts have grown over the years as our NW has. We only missed one yr when times were extremely difficult for us. We do it all anonymously and it feels even better.

We donate $ to local B&G club with the stimpulation it be spent on scholarships, baseball gloves, bats, etc for those without.
We do the same at the local HS as well.
We donate $ to local org for abused children.
We buy 4-6 4H animals at the fair every year and donate the meat to the local food shelter.

We are both on the B of Ds for these orgs. I'm coaching again this year for the 13th yr.

I owe much to the opportunites and people I've had/met thru sports. It was the one time while growing up I felt not having all the new, neat stuff didn't matter. That I was equal.
__________________
HelpMeRhonda is offline   Reply With Quote
Re: Did you tithe while saving for FIRE?
Old 04-12-2007, 01:22 PM   #12
Recycles dryer sheets
 
Join Date: Mar 2007
Posts: 211
Re: Did you tithe while saving for FIRE?

The long-term goal for our cash flow was inspired by this great catchphrase I heard on an NPR show a few months back about teaching kids money skills--"spend a third, save a third, share a third". Unfortunately, living in the grownup world of rent payments and groceries makes living on 33% a little challenging (though a noble long-term goal). We decided a 50-25-25 split would come close to the spirit of that concept. right now we're probably closer to 45-45-10 because we're so antsy to get out of rental purgatory that we're throwing nearly every penny we can spare into the house fund.

Once the house is bought and the cash flow situation stabilizes, we're hoping to get back to 50-30-20 or 50-25-25, depending on the difference that 5% makes to FIREcalc. Half our charity dollars go to church, the rest to a split between various local organizations, including a nonprofit that I'm on the board of (providing wellness activities like yoga, stress management, etc. to low income/at risk populations). Back not so long ago when we were still young and "broke", I realized that time tithes could be as important as cash ones, and I've always volunteered a good bit of my free time to things I care about. This is something I REALLY look forward to ramping up post-FIRE.
__________________
OKLibrarian is offline   Reply With Quote
Re: Did you tithe while saving for FIRE?
Old 04-12-2007, 04:00 PM   #13
Full time employment: Posting here.
 
Join Date: Dec 2006
Posts: 509
Re: Did you tithe while saving for FIRE?

We tithe regularly (not 10%, but still regularly) despite being on a single income, in addition to giving away things either through Goodwill, Freecycle, or Craigslist. Also, throughout the year we make up a few bag lunches and take them to the homeless downtown.
__________________
Peaceful_Warrior is offline   Reply With Quote
Re: Did you tithe while saving for FIRE?
Old 04-12-2007, 04:39 PM   #14
Thinks s/he gets paid by the post
 
Join Date: Nov 2005
Location: North of Montana
Posts: 2,753
Re: Did you tithe while saving for FIRE?

I read 'tithe' as giving to a religious organization. We give lot's to charity, none to religion. 10%? maybe some years, more likely 5%.
__________________
There are two kinds of people in the world: those who can extrapolate conclusions from insufficient data and ..
kumquat is offline   Reply With Quote
Re: Did you tithe while saving for FIRE?
Old 04-12-2007, 04:59 PM   #15
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
donheff's Avatar
 
Join Date: Feb 2006
Location: Washington, DC
Posts: 8,643
Re: Did you tithe while saving for FIRE?

I clicked on "not a penny" because I read tithing and assumed you meant giving to a religious organization. I did regularly contribute to charities, politicians, etc during my working years. Now I contribute time, primarily, and a smaller amount of cash to specific organizations I like.
__________________
Every man is, or hopes to be, an Idler. -- Samuel Johnson
donheff is offline   Reply With Quote
Re: Did you tithe while saving for FIRE?
Old 04-12-2007, 05:00 PM   #16
Recycles dryer sheets
gandalf42's Avatar
 
Join Date: Mar 2007
Location: Fort Collins, CO
Posts: 138
Re: Did you tithe while saving for FIRE?

We start with giving 10% to our local church. Then there are additional fundraisers and a variety of charities we give to.

Despite doing that all of our adult/married lives, we are were well on our way to FIRE. An unanticipated inheritance just happened to push the schedule up.

__________________
"Being rich is having money; being wealthy is having time."

"It is only possible to live happily ever after on a day-to-day basis” Margaret Bonnano
gandalf42 is offline   Reply With Quote
Re: Did you tithe while saving for FIRE?
Old 04-12-2007, 05:12 PM   #17
Thinks s/he gets paid by the post
 
Join Date: Jul 2005
Location: Los Angeles area
Posts: 1,432
Re: Did you tithe while saving for FIRE?

I also voted "0%" assuming you meant some sort of church contributions.

I mainly support dog rescue organizations, with some contributions for
whatever my nieces / friends / friends kids are collecting for.
__________________
learn, work, save, invest, fire
CyclingInvestor is offline   Reply With Quote
Re: Did you tithe while saving for FIRE?
Old 04-12-2007, 06:05 PM   #18
Confused about dryer sheets
 
Join Date: Feb 2007
Posts: 3
Re: Did you tithe while saving for FIRE?

Absolutely! I learned early on in my adult life that everything I have is by the Grace of God. This is from someone who grew up extremely poor. Does God need my money, of course not. Giving away part of what all could be gone in the blink of an eye is but a small thing. I'm much further ahead by giving.

__________________
777re777 is offline   Reply With Quote
Re: Did you tithe while saving for FIRE?
Old 04-12-2007, 08:38 PM   #19
Moderator Emeritus
Khan's Avatar
 
Join Date: Aug 2006
Location: Pine Island, Florida
Posts: 6,868
Send a message via AIM to Khan
Re: Did you tithe while saving for FIRE?

I give the same amount of money after retiring as I did before; but that amount is now about 10% of my gross.

No religious orgs but a few local groups.

I give stuff to local St Francis('cause it's close), and I also shop there.
__________________
"Knowin' no one nowhere's gonna miss us when we're gone..."
Khan is offline   Reply With Quote
Re: Did you tithe while saving for FIRE?
Old 04-12-2007, 10:48 PM   #20
Recycles dryer sheets
 
Join Date: Jun 2006
Posts: 63
Re: Did you tithe while saving for FIRE?

Would giving to family count as charity?

Over the years although my mom has enough asset from my dad(single beneficary), she doesn't actually hold much cash...her checking account probably is only 10K. Bought her 5K watch, 8K furniture, 2K bag...that sort of things. I also make sure when she comes visit me that her ticket is reimbursed and she has enough fun money for shopping. My weakness is I really like to make sure that she has enough because when we were growing up, I know she never shop for herself...her money is basically household money spent on food. We get new clothes probably twice a year....now that I can afford it, I think it's time to spoil her. By the way, she's 62, great health.

My brother is now running the business and I know although it's not bad, he's quite leveraged. I don't like debts so it sometimes worry me.
__________________

__________________
Siv is offline   Reply With Quote
Reply


Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
 
Thread Tools Search this Thread
Search this Thread:

Advanced Search
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off


Similar Threads
Thread Thread Starter Forum Replies Last Post
When did you start seriously saving. rw86347 Young Dreamers 75 07-02-2007 11:52 AM
Saving too much? Eagle43 FIRE and Money 62 01-29-2007 11:15 AM
Saving for early retirement: the point of diminishing returns Silhan FIRE and Money 17 05-15-2006 12:49 PM
"What are you saving for?" redux Nords Life after FIRE 60 05-17-2005 07:14 PM
If we're ER'd, why are we saving? Nords Life after FIRE 29 12-03-2004 02:17 AM

 

 
All times are GMT -6. The time now is 06:38 PM.
 
Powered by vBulletin® Version 3.8.8 Beta 1
Copyright ©2000 - 2017, vBulletin Solutions, Inc.