On the other hand, giving does bring happiness

[racy]

Three Ways Money Buys Happiness https://tinyurl.com/y2cyuqy9

From the article:
"2. Spend your money on others. Research shows that spending money on others provides a greater happiness boost than spending money on ourselves. For example, researchers gave money to undergraduates, instructing half the students to spend it on themselves (for example, to buy a CD they wanted or to go out for lunch) and the other half to spend it on others (for example, to give money to a charity or a homeless person, or to buy a gift for a friend). Those who spent the money on others were happier than those who spent it on themselves."

 

[pacergal]

Definitely.
Our retirement has afforded us the ability to spend more/gift others than before.
We feel very blessed to be in this position.

 

[OldShooter]

Yup. We've both already given away our $600s as part of larger QCDs. If I get anything from Biden, I'll give that away too.

 

[kgtest]

If you thought receiving a gift was great, imagine being in the position of the giver!

 

[Lawrencewendall]

Right now, I'm dealing with taking care of DW in case of my demise. She has multiple medical issues and I don't feel comfortable giving money away that she may need when I'm gone. Just my scenario.

 

[Bamaman]

We paid some rent for a single mother of 3 when she was destitute. She later got married and is doing well.

Also counseled a 40 year old gal that was a career waitress. We loaned her a little $ to get her into truck driving school and is now making good $ on the open road. She's got a very strong personality, and the job's perfect for her.

We also paid for a young lady to move to Kansas City where she had a job. She finished a BA Degree and a Master's Degree and she's now counseling drug addicts.

 

[harllee]

Pre Covid we volunteered at a couple of nonprofits and became really involved in their missions. We support them with monetary contributions also and it gives us a great deal of happiness. We had to stop volunteering in person because of Covid but we continued to do some virtual volunteering. We hope to start back in person after the 2nd vaccine becomes effective (I get my second vaccine tomorrow--yah!).

 

[rk911]

Three Ways Money Buys Happiness https://tinyurl.com/y2cyuqy9

From the article:
"2. Spend your money on others. Research shows that spending money on others provides a greater happiness boost than spending money on ourselves. For example, researchers gave money to undergraduates, instructing half the students to spend it on themselves (for example, to buy a CD they wanted or to go out for lunch) and the other half to spend it on others (for example, to give money to a charity or a homeless person, or to buy a gift for a friend). Those who spent the money on others were happier than those who spent it on themselves."

it does for us. nothing like be uber generous to bring a smile to our faces.

 

[RetireeRobert]

Now that DW has passed, and I am in very financially secure position to the point of excess, I am planning some major gifts via QCDs from IRA accounts.

Just made one to a local Christian pregnancy center as a memorial in my wife's name for a new Parenting Initiative program they have started. Very rewarding feeling from that on multiple levels. I will monitor their spending and new program for a year, then may make it a recurring annual gift.

Have also started gifting my three kids some unexpected chunks of cash on any excuse of a holiday (Valentines Day, Presidents Day, St. Patrick's Day, etc.). I have so much flowing into my IRAs from dividend stocks, my dividends exceed my RMD's. So it's kind of fun "spoiling" my three adult children.

Still working out some kind of major gift to make to our church. I want to do something there also in memorial of my wife, but need to figure out the right opportunity.

 

[harllee]

Now that DW has passed, and I am in very financially secure position to the point of excess, I am planning some major gifts via QCDs from IRA accounts.

Just made one to a local Christian pregnancy center as a memorial in my wife's name for a new Parenting Initiative program they have started. Very rewarding feeling from that on multiple levels. I will monitor their spending and new program for a year, then may make it a recurring annual gift.

Have also started gifting my three kids some unexpected chunks of cash on any excuse of a holiday (Valentines Day, Presidents Day, St. Patrick's Day, etc.). I have so much flowing into my IRAs from dividend stocks, my dividends exceed my RMD's. So it's kind of fun "spoiling" my three adult children.

Still working out some kind of major gift to make to our church. I want to do something there also in memorial of my wife, but need to figure out the right opportunity.

Robert, what a great way to honor the memory of your wife. DH turns 70.5 soon so we are also planning to do some major QCDs from his IRA. There is so much happiness and satisfaction from making gifts to local nonprofits and then seeing the benefits from those gifts.

 

[Souschef]

I, like some others, are in an enviable place where we have more money than we need now or for the future.

Aside from gifting our 4 children, we have made major donations to a number of local charities. They do not have the large administrative burden that some of the national charities do.
We do get a feeling of satisfaction that we are helping people that are less fortunate that us, especially with the pandemic.

 

[RetireeRobert]

Aside from gifting our 4 children, we have made major donations to a number of local charities. They do not have the large administrative burden that some of the national charities do.

Yes, Souschef and also Harllee, gifting to a smaller, local charity really appealed to me too.

They do not get the big coordinated well-advertised and often times nationwide fund drives some of the biggies get advantage of. And one knows one is really making a direct difference, having a big impact.

 

[NW-Bound]

I just looked at my Quicken screen for all spending ever since I started to track expenses in 2010.

Top category is "Housing Cost" (I have 2 homes). Second category is "Gifts and Donations".

 

[Markola]

Right now, I'm dealing with taking care of DW in case of my demise. She has multiple medical issues and I don't feel comfortable giving money away that she may need when I'm gone. Just my scenario.

There is an old saying, “Charity begins at home.” Best wishes for your DW.

 

[rk911]

There is an old saying, “Charity begins at home.” Best wishes for your DW.

+1

 

[RetireeRobert]

There is an old saying, “Charity begins at home.” Best wishes for your DW.

+2 Add my best wishes as well.