View Poll Results: How much do you give to charity each year?
|
Less than 1%
|
|
55 |
30.90% |
1 - 3%
|
|
25 |
14.04% |
3 - 5%
|
|
16 |
8.99% |
5 - 7%
|
|
11 |
6.18% |
7 - 10%
|
|
21 |
11.80% |
10% or more
|
|
50 |
28.09% |
|
|
Poll:How much do you give to charity?
09-18-2021, 10:34 AM
|
#1
|
Thinks s/he gets paid by the post
Join Date: Jan 2012
Posts: 2,581
|
Poll:How much do you give to charity?
I see there hasn't been a poll here about charitable giving in over 10 years, and a recent thread got me wondering about it. Of your annual spending, how much goes to charity each year? Feel free to post any details about your charitable giving once you've voted.
|
|
|
|
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!
|
09-18-2021, 10:47 AM
|
#2
|
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Apr 2015
Posts: 5,775
|
The total amount varies.
I do have three consistent charities plus faith based.
Local Humane Society
A world wide medical/disaster--this year is Medical Teams International
A Cancer charity--this year is St Jude
plus
Goodwill donations for household goods and usable clothing
will sometimes throw in a potlitical donation.
__________________
Give a Man a fish, he will eat for a day.
Teach a Man to fish, he will eat for a lifetime.
|
|
|
09-18-2021, 10:48 AM
|
#3
|
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Jul 2014
Location: Spending the Kids Inheritance and living in Chicago
Posts: 16,973
|
I'm counting from spending and not roth conversions or money movements.
My charitable giving was giving $$$ to my poor sister so she would have some $$ to spend.
I considered it my private charity, and of course it was not tax deductible for a variety of reasons.
It was needed (I felt) because her pension just managed to cover her monthly fee at the supported living place. But she still needed prescriptions, dental, toiletries, clothes, etc..
I followed the motto charity begins at home
<edited> Also do Sally Ann donations, my way to repay them for the help they gave me when I was homeless.
__________________
Fortune favors the prepared mind. ... Louis Pasteur
|
|
|
09-18-2021, 11:36 AM
|
#4
|
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Jun 2006
Location: Boise
Posts: 7,863
|
It's going to vary. A lot.
I've recently adjusted my plan to give large amounts to charity via QCD in my 70's. The tax-beneficial nature of this approach means about 42% more to the charities than they otherwise would receive.
My charities are chosen based on their effectiveness. I focus on basic needs for children and disadvantaged. I prefer root cause efforts. So top four currently on my list are Samaritan's Purse, Dave Thomas Foundation for Adoption, Shriners Hospital for Kids, and Save the Children. There are a total of 14 on my current list.
__________________
"At times the world can seem an unfriendly and sinister place, but believe us when we say there is much more good in it than bad. All you have to do is look hard enough, and what might seem to be a series of unfortunate events, may in fact be the first steps of a journey." Violet Baudelaire.
|
|
|
09-18-2021, 11:50 AM
|
#5
|
Thinks s/he gets paid by the post
Join Date: Dec 2015
Location: Santa Paula
Posts: 4,067
|
This year I donated $28 K via QCD. It makes a lot of sense, as I would have to pay tax on it otherwise.
Here are my donations:
Homeless shelter
Religious institution I belong to
Local Food Bank
Angel Flight West, since I am no longer flying.
__________________
Retired Jan 2009 Have not looked back.
AA 60/35/5 considering SS and pensions a SP annuity
WR 2% with 2SS & 2 Pensions
|
|
|
09-18-2021, 12:52 PM
|
#6
|
Thinks s/he gets paid by the post
Join Date: Jan 2012
Posts: 2,581
|
For those of you giving more than 1% to charity every year, how do you determine the amount (or percentage) to give? I'd like to increase my giving, but I don't have any sense of what the right amount should be. I know there is no actual "right" or "wrong" or "too little", but just knowing how others are viewing it will help me.
|
|
|
09-18-2021, 01:14 PM
|
#7
|
Recycles dryer sheets
Join Date: Aug 2018
Posts: 109
|
Percent of what? Net Assets? Income? Assuming income, for those retired what do you consider income? All withdraws or only pension and SS?
|
|
|
09-18-2021, 01:15 PM
|
#8
|
Thinks s/he gets paid by the post
Join Date: Oct 2007
Location: Willamette Valley, Oregon
Posts: 1,979
|
This year I gave about $70,000:
My local church: $44,000
Local Christian College's Scholarship Fund: $15,000
Local Christian Pregnancy Center (Abortion alternatives): $7500
Children Inc. Guatemalan Child Sponsorship $610
Local UGM Mission: $500
Missionary Sponsorship: $500
and miscellaneous other small occasional amounts
Amounted to about 55% of annual income. Most of it done via QCD from IRA.
|
|
|
09-18-2021, 01:21 PM
|
#9
|
Thinks s/he gets paid by the post
Join Date: Jan 2012
Posts: 2,581
|
Quote:
Originally Posted by SALTedOut
Percent of what? Net Assets? Income? Assuming income, for those retired what do you consider income? All withdraws or only pension and SS?
|
I'll say, for the purposes of this poll, percent of annual spend. I think this is the best metric for early retirees.
|
|
|
09-18-2021, 02:10 PM
|
#10
|
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Apr 2012
Posts: 6,098
|
Quote:
Originally Posted by Sojourner
For those of you giving more than 1% to charity every year, how do you determine the amount (or percentage) to give? I'd like to increase my giving, but I don't have any sense of what the right amount should be. I know there is no actual "right" or "wrong" or "too little", but just knowing how others are viewing it will help me.
|
There really is no right amount. It is really a personal call. Though we budget a certain percent, we really do not try to base our giving on that, it is more situational. For example, when I was working, some of my income was bonus based. I tended to donate a higher percentage of those bonuses to charitable causes or situations than my regular paycheck.
It is also based on the interactions we have in the world. DW and I have both volunteered in organizations that help us to see into the lives of the less fortunate, and we see and learn of situations that create the desire for us to give.
Our giving includes both tax deductible and non-tax deductible items. The combination has almost always been over 10%. How much over varies by year. Our only IRS audit (so far) was due to the volume of charitable contributions we claimed. Of course we had all the necessary paperwork so the audit was a breeze .
__________________
FIREd date: June 26, 2018 - "This Happy Feeling, Going Round and Round!" (GQ)
|
|
|
09-18-2021, 02:18 PM
|
#11
|
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Mar 2007
Posts: 14,328
|
I didn't see an option for "Nunya dam bizzness"
|
|
|
09-18-2021, 02:19 PM
|
#12
|
Administrator
Join Date: Apr 2006
Posts: 22,923
|
Quote:
Originally Posted by Sojourner
I'll say, for the purposes of this poll, percent of annual spend. I think this is the best metric for early retirees.
|
That's how I interpreted it.
Quote:
Originally Posted by Sojourner
For those of you giving more than 1% to charity every year, how do you determine the amount (or percentage) to give? I'd like to increase my giving, but I don't have any sense of what the right amount should be. I know there is no actual "right" or "wrong" or "too little", but just knowing how others are viewing it will help me.
|
The largest single amount of my giving is to my church. My decision there is informed by a few considerations. First, I know how much they need each year - it is a fairly large Congregational church and we have an annual meeting every January where we review the budget in detail and vote to approve it (or not, sometimes). While only one person in the church (and it is not the pastor) knows precisely how much each of us has pledged, the stewardship committee does prepare a list of how many pledging units (a unit is a family or a single person) fall in a range of amounts. Since I am probably one of the wealthiest in the congregation, I always try to keep my pledge in the top range, because I know I can afford it better than many young families in congregation. On the other hand, I don't think it healthy for the life of the church if only a few people pay the bills; everyone in the congregation needs to feel ownership. So I pledge a little over triple the average and provide about 1% of the budget, and I increase every year to account for inflation. This past January, after the annual meeting, I increased my pledge by 33% to meet a shortfall caused by many people being out of work and unable to pledge anything. Then I consider whether I can afford it. So far, that has not been a problem for me.
I'm only two years into retirement, so I'm a little cautious still. I will likely loosen the purse strings as my concerns about SORR abate.
__________________
Living an analog life in the Digital Age.
|
|
|
09-18-2021, 02:20 PM
|
#13
|
Thinks s/he gets paid by the post
Join Date: Jun 2021
Posts: 1,464
|
We have given to various charities through the years, mainly food banks for several decades and for the past few years to a shelter for victims of domestic violence. We also contribute yearly to Gary Sinise Foundation for wounded veterans of the military. No fixed percentage.
|
|
|
09-18-2021, 02:32 PM
|
#14
|
Full time employment: Posting here.
Join Date: Feb 2017
Location: Severn
Posts: 947
|
0%. I'm just going into my 3d year of FIRE. I'm not confident my numbers are correct due to DW blowing the budget. My current charity is keeping her happy.
|
|
|
09-18-2021, 02:38 PM
|
#15
|
Thinks s/he gets paid by the post
Join Date: Oct 2007
Location: Willamette Valley, Oregon
Posts: 1,979
|
Quote:
Originally Posted by Sojourner
I'll say, for the purposes of this poll, percent of annual spend. I think this is the best metric for early retirees.
|
I interpreted it as percent of "annual income". I see "income" as different than "annual spend".
__________________
Dreams Worth Dreaming are Dreams Worth Planning For. I Spent a Career Planning for Early Retirement.
|
|
|
09-18-2021, 02:40 PM
|
#16
|
Moderator
Join Date: Feb 2010
Location: Flyover country
Posts: 25,155
|
Up to 2019 our charitable giving was around 8-10% of our total spending.
In 2020 we had to cancel most of our fun travel and we knew people were hurting, so we raised it to about 20% and increased the breadth of our list of recipients.
So far in 2021, it has been about 13% and will increase by end of year to probably 16-17%.
Most of it is done anonymously through our DAF with Fidelity because I hate to get on those gimme lists.
__________________
I thought growing old would take longer.
|
|
|
09-18-2021, 02:43 PM
|
#17
|
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Jan 2006
Location: Rio Grande Valley
Posts: 37,931
|
It’s all over the map.
__________________
Retired since summer 1999.
|
|
|
09-18-2021, 02:44 PM
|
#18
|
Thinks s/he gets paid by the post
Join Date: Dec 2015
Location: Santa Paula
Posts: 4,067
|
Gumby,
Bless you for what you are doing. I agree that everyone should contribute to some degree. We recently had a fundraiser for a new website, and while I could easily cover the cost, I said that I wanted others to feel they contributed. I told the designer. i would make up the difference between the contributions and the cost, which I did.
I also got the budget for the annual fundraiser, and donated an equal amount. In both cases, I requested that my donations be anonymous.
__________________
Retired Jan 2009 Have not looked back.
AA 60/35/5 considering SS and pensions a SP annuity
WR 2% with 2SS & 2 Pensions
|
|
|
09-18-2021, 02:47 PM
|
#19
|
Thinks s/he gets paid by the post
Join Date: Jan 2012
Posts: 2,581
|
That would be the unlisted, ever-present option of not voting in the poll.
|
|
|
09-18-2021, 02:48 PM
|
#20
|
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Mar 2005
Location: Chicago
Posts: 13,148
|
Quote:
Originally Posted by RetireeRobert
I interpreted it as percent of "annual income". I see "income" as different than "annual spend".
|
Since OP clearly spelled out the parameters as percent of annual spending, why don't we stick with that?
Quote:
I see there hasn't been a poll here about charitable giving in over 10 years, and a recent thread got me wondering about it. Of your annual spending, how much goes to charity each year? Feel free to post any details about your charitable giving once you've voted.
|
__________________
"I wasn't born blue blood. I was born blue-collar." John Wort Hannam
|
|
|
|
|
Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
|
|
Thread Tools |
|
Display Modes |
Linear Mode
|
Posting Rules
|
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts
HTML code is Off
|
|
|
|
» Recent Threads
|
|
|
|
|
|
|
|
|
|
|
|
|
» Quick Links
|
|
|