The recent religion threads and conversations with others (in the "real" world") got me to thinking.
Many in the Christian faith feel compelled to tithe the church 10% of their income. As one person told me once, "My whole income is God's, I just get to keep the other 90% for myself".
It seems to me this would have a serious dampening effect on your savings rate. While 10% of your gross income would be significant in and of itself, I assume it would be more like 20-60% of your disposable income (part or all of which could go to savings or investments).
Have those of you that ER'd or managed to amass large portfolios over time through LBYM been giving away 10% of your income a year?
I know the 10% would be tax deductible, so it isn't really 10%, assuming you can itemize.
This poll is meant for people of all religions to respond to. I'd be interested in what percentage of your income is "supposed" to be donated to your religious organization for non-christians as well.
I know it can be a touchy subject, but any reflections on the matter would be appreciated.
Many in the Christian faith feel compelled to tithe the church 10% of their income. As one person told me once, "My whole income is God's, I just get to keep the other 90% for myself".
It seems to me this would have a serious dampening effect on your savings rate. While 10% of your gross income would be significant in and of itself, I assume it would be more like 20-60% of your disposable income (part or all of which could go to savings or investments).
Have those of you that ER'd or managed to amass large portfolios over time through LBYM been giving away 10% of your income a year?
I know the 10% would be tax deductible, so it isn't really 10%, assuming you can itemize.
This poll is meant for people of all religions to respond to. I'd be interested in what percentage of your income is "supposed" to be donated to your religious organization for non-christians as well.
I know it can be a touchy subject, but any reflections on the matter would be appreciated.