I'm gonna give it all away...

[Stormy Kromer]

My Dr gave me some news and it changed my outlook.

I FIRED at 50. Now at 59. No regrets. Healthy as a rented mule til a month or so ago.

Net worth about 9M. most all self made, except $2M inherited...recently and very painfully/

I did inherit some land from the family that the children will inherit. mentioned above. Plus the earnings since the earnings since I got it. I feel guilty.

So. I set my children up well with education and their future inheritance. I live small, about $40,000 a year.

I am thinking about where to give it to. The children will get what I inherited. I want to help those who need it and have no other source (government) to look for.

My mom passed recently and I was exposed to a couple groups who help people in need that I am considering giving it all to. One is the Ronald McDonald House and the other is St Jude's Children's Hospital,

Anyone with any experience with either ?

I am an orphan myself, someone helped me 59 years ago. I want to give it back.

Thanks all.

 

[skyking1]

No experience with either one, Stormy. Perhaps consider orphans by checking out the Children's Home Societies. That resonates with you. I know nothing about how they or the other two organizations operate, so vetting whoever you decide to donate to is in order.

 

[kgtest]

Condolences.

Could look for a local boys and girls club. Giving away 3 to 5MM+ is significant. You could setup scholarships. I know lots of people like QCDs.

My DS passed away at 47 from colon cancer. So I intend to give to causes that promote earlier screenings and awareness for colorectal cancer. Grandma also died from that before I ever got to meet her.

 

[Ronstar]

Yes, I somewhat have experience with Ronald McDonald House. My niece's 3 year old suffered a life threatening (life support kidney/ heart failure) illness a couple of years ago that led to his transfer to Lurie Children's Hospital in Chicago. The young lad has mostly recovered thanks to the doctors and staff at Lurie.

His parents stayed at Ronald McDonald House through the ordeal. Close to Lurie, Ronald McDonald House provided them with a nearby place to stay when commuting from their suburban home would not work in a life support situation.

I donate to Lurie/ Ronald McDonald House and will continue to do so.

Condolences on the loss of your mother, and be well Stormy.

 

[JDARNELL]

Sorry to hear about your loss. Giving it away is something that I think a lot of us are beginning to think about. We have approached this topic with our kids in their mid 20s and they can't comprehend what they would do with it at this point in their life because they are well on their way to being self made just like we are. We have decided that we will forgo any inheritance coming our way and straight to them.

Many times people give to charities that are near and dear to them. I can appreciate you saying that someone helped you out 59 years ago and I am sure there are a lot that need help today.

As for the charities you were mentioning I can share an experience with RM house. In fact several. During the first few years of one our kids lives we spent months at the RM house. It was a safe place close to the hospital that gave us refuge during this rough time in our lives. We met several families that were going through their own challenges and everyone each time appreciated a place near the hospital and a place to rest for the next day. Many of the families had nothing while others were blessed. It didn't matter as the focus was on getting the kiddos through teenagers treatment and getting better.

After our first visit upon leaving the house director asked me how much I wanted to pay for our time there. I asked what do you mean. She said you don't have to pay anything. Of course we were blessed enough to pay it all which we did.

The years sense we have donated to the RM house and helped fund raise each year through matching grants during their annual fund raiser for the houses in the areas we lived in. Not only does the people that stay at the house benefit but I would argue that the community does also by having the opportunity to help. It was always nice to see families or groups come to the house to donate food, clothing, or their time to keep the place up. In the case of groups it was like team building and bonding. Everyone always seemed to have a smile on their face and I know it brings a smile to our face every time we visit helping out.

 

[street]

My Dr gave me some news and it changed my outlook.

I FIRED at 50. Now at 59. No regrets. Healthy as a rented mule til a month or so ago.

Net worth about 9M. most all self made, except $2M inherited...recently and very painfully/

I did inherit some land from the family that the children will inherit. mentioned above. Plus the earnings since the earnings since I got it. I feel guilty.

So. I set my children up well with education and their future inheritance. I live small, about $40,000 a year.

I am thinking about where to give it to. The children will get what I inherited. I want to help those who need it and have no other source (government) to look for.

My mom passed recently and I was exposed to a couple groups who help people in need that I am considering giving it all to. One is the Ronald McDonald House and the other is St Jude's Children's Hospital,

Anyone with any experience with either ?

I am an orphan myself, someone helped me 59 years ago. I want to give it back.

Thanks all.

The two charities you have mentioned IMO would be outstanding choices!!

I do want to shake your hand on your thought for giving back. My hat goes off to you and people like you make a deference in lives.

I just got off from being a Board Member for a local charity in the health care field. What a difference that group makes on people's lives and seen firsthand the benefits of the young with health issues.

Thanks and please keep us posted with your journey and dream of giving back.

 

[Stormy Kromer]

Thanks all. I don't intend to reinvent the wheel if someone else has already gotten it in place. St Jude's and the Ronald McDonald House stood out to me the months I spent with DM while she was fighting cancer. She died with about $15,000 to her name and asked me to give it to St Jude's. This is the woman who adopted me from an orphanage when I was 5 months old.

I've seen people suffering firsthand in hospitals and have seen people in need. The ones I feel the most for are families with children that have to take time off work and live away from home while their sick children are hospitalized.

If I can help them keep their lives intact while their children are hospitalized that would be good. We are fortunate.

For the life of me I can't believe I'm in this situation. Starting with nothing to being able to make a difference to people in a lifetime can happen sooner than you think. I'm still the same guy, I want to help people now that I have a chance. I'm numb right now.

 

[ivinsfan]

Stormy since you live rural you might consider starting or leaving funds to endow college scholarships. Sometimes rural kids haven't many funds for higher education

 

[street]

Stormy since you live rural you might consider starting or leaving funds to endow college scholarships. Sometimes rural kids haven't many funds for higher education

The big problem I have with scholarships is and I have seen it first-hand. Is the money can go to parting and money spent the kid never does anything with the opportunity of a paid college.

I was on one of those boards that would pick top quality students and a few years down the road it ended in a disaster. Money spent and nothing in return. Even with a very well policed policy on who is to receive in a lot of the cases it was all wasted money.

Giving families and kids dying can make more of an impact and you can see the difference right away. People that need urgent help IMO is a better way to give back.

 

[ivinsfan]

Street you have a good point. Our local school has quite a few scholarships mostly in the 2 to 5k range..for a multi year kids are required to send proof of enrollment and grades. But these country kids very often get the short end of the stick when scholarships are disbursed..just pointing out a way Stormy could honor his farm/rural family

 

[pacergal]

St Judes is one of the charities we give to yearly. Research and medical care for children cancer is a worthwhile cause, I feel.

Stormy--you have the means to make a difference with your donations. Bless you.

 

[Wile E. Coyote]

Thanks all. I don't intend to reinvent the wheel if someone else has already gotten it in place. St Jude's and the Ronald McDonald House stood out to me the months I spent with DM while she was fighting cancer. She died with about $15,000 to her name and asked me to give it to St Jude's. This is the woman who adopted me from an orphanage when I was 5 months old.

I've seen people suffering firsthand in hospitals and have seen people in need. The ones I feel the most for are families with children that have to take time off work and live away from home while their sick children are hospitalized.

If I can help them keep their lives intact while their children are hospitalized that would be good. We are fortunate.

For the life of me I can't believe I'm in this situation. Starting with nothing to being able to make a difference to people in a lifetime can happen sooner than you think. I'm still the same guy, I want to help people now that I have a chance. I'm numb right now.

If not for St. Jude's my niece's 8-year-old son would not have survived. He was born with a rare heart condition and had to have surgery right away. I suspect the children's medical charities are a no brainer for charitable giving.

Are you sure with your diagnosis? I say this because I was diagnosed back in 2015 and it was all very dramatic. It turns out I have been watch and wait for 8 years. I recently updated my will do to an injury combined with Covid. So, I think that is a good idea. But, I am not entirely sure the doctors always get it right.

 

[ivinsfan]

I do have family experience with RMac house,highly recommended .. it does get a lot of support from MacD and other corporate sponsors.

I also know a lot of church organizations that help kids in distressed areas of the world always a need there

 

[steady saver]

Stormy, I have no experience with either one of these organizations but know both to be excellent. Mainly, though, I just want you to know that I am thinking of you. I'm sorry for your news but am hoping that you overcome whatever it is.

 

[Sunset]

Hopefully it's not too soon.
I'd get another opinion as that's serious news and a doctor can be wrong.

 

[Venturer]

No personal experience with either one but I started supporting St. Jude years ago and my former employer is a big supporter of them since corp.is in Memphis. McD house helped one of my good friends family a few years ago as their son was going thru some bad stuff. I will be thinking of you and hope your time is good as you face what ever this is.

 

[Fermion]

Stormy, I am sorry if you have had bad news from the Dr. but so glad you retired at 50. Too many people wait way too long.

I think it is a great thing what you plan to do and know that we are pulling for you!

 

[MarieIG]

Those are two of my favorite charities. Our family has had personal / positive experience Ronald McDonald's House several times.

 

[harllee]

I have volunteered at our local Ronald McDonald House, it is a great organization. Bless you for doing this.

 

[Chuckanut]

Yes, I somewhat have experience with Ronald McDonald House. My niece's 3 year old suffered a life threatening (life support kidney/ heart failure) illness a couple of years ago that led to his transfer to Lurie Children's Hospital in Chicago. The young lad has mostly recovered thanks to the doctors and staff at Lurie.

His parents stayed at Ronald McDonald House through the ordeal. Close to Lurie, Ronald McDonald House provided them with a nearby place to stay when commuting from their suburban home would not work in a life support situation.

I donate to Lurie/ Ronald McDonald House and will continue to do so.

Condolences on the loss of your mother, and be well Stormy.

There’s a Ronald McDonald house near the local Big City children’s hospital. I drove by it once expecting to see a big 4 to 6 bedroom house with a playground in the back yard. What I saw was a huge apartment complex owned by the charity for the families of long term patients at the hospital. I think a contribution would be a good idea. Though please do check up and make certain the funds are eaten up by administrative causes.

 

[rk911]

My Dr gave me some news and it changed my outlook.

I FIRED at 50. Now at 59. No regrets. Healthy as a rented mule til a month or so ago.

Net worth about 9M. most all self made, except $2M inherited...recently and very painfully/

I did inherit some land from the family that the children will inherit. mentioned above. Plus the earnings since the earnings since I got it. I feel guilty.

So. I set my children up well with education and their future inheritance. I live small, about $40,000 a year.

I am thinking about where to give it to. The children will get what I inherited. I want to help those who need it and have no other source (government) to look for.

My mom passed recently and I was exposed to a couple groups who help people in need that I am considering giving it all to. One is the Ronald McDonald House and the other is St Jude's Children's Hospital,

Anyone with any experience with either ?

I am an orphan myself, someone helped me 59 years ago. I want to give it back.

Thanks all.

We're in the same boat but we have no kids. I have one sister who has a married son who is about to be a father. So we've been gifting to my sis and her husband, my nephew and his wife ( school teachers, both). We give heavily to a number of charities via a DAF and QCD. We plan to fund a 529 plan for the baby and support my sister who has early onset. Our trust has a number of gifts to all of the above with the elephant's share going to charities.

Our favorites include Tunnel to Towers, Wounded Warrior Project, St. Jude, La Rabida Children's Hospital, CBN, The Midwest Shelter For Homeless Vets and many, many more. Some well known, others not so much.

 

[target2019]

University hospitals sometimes have centers to assist families. https://www.pennmedicine.org/for-pa...itors-of-the-pavilion/family-caregiver-center

 

[ProspectiveBum]

Our son got a diagnosis at 10yo that required him to spend about a week at the local children’s hospital. We utilized the Ronald McDonald House facilities onsite and it was a huge help during a very stressful time. They provide a very worthwhile service.

However you choose to allocate your charitable funds, you’ll do a lot of good, and will help a lot of people. Very kind of you.

 

[zl55lz]

So sorry about your recent issues. Your thinking of how to help others during this difficult time for you is admirable.

In addition to donating to charities, don't forget how much you can do now and enjoy directing it yourself and seeing the fruits.

There are many all around us who are working really hard but just need a break. I am amazed when I get to know people at various places such as restaurant workers and such who have dreams of going to school, but can't afford it, or need school books, tuition, or car repairs, or, or...and they are working hard to get by for their children as a single parent or whatever.

I've met many fine people, who are not looking for a handout, and would hesitate to accept help---in fact, would barely be able to understand such help from another.

I have found there is great joy in doing something for others, now, no matter how small.

And of course, arrangements can be made to take care of family for generations to come.

 

[OldShooter]

... St Jude's and the Ronald McDonald House stood out to me the months I spent with DM while she was fighting cancer. ...

I don't know much about either of those charities, although I have read some fairly negative things about St. Jude's fund raising practices, including suing estates and spending 30% of funds raised on fund-raising. https://www.propublica.org/article/st.-jude-fights-donors-families-in-court-for-share-of-estates also https://www.propublica.org/article/...hile-many-of-its-families-drain-their-savings and search Google for "St. Jude's suing donors"

Another option you might want to consider is a local community foundation. (https://cof.org/foundation-type/community-foundations) These are small, low overhead, organizations that work to have an impact in their local area. We are involved with one where the total staff is 4 people and the administrative cost is a couple of percent. We have a charitable fund there that we fund with QCDs. it's officially not a donor advised fund (not allowed for QCDs.) but we have a written grant policy and the community foundation staff frequently consults with us about grant ideas. Our basic thrust is helping in urgent or unusual situations where the big charities are just not in the picture. One time we bought steel-toe boots for an uneployed guy who needed them to accept a job. Another time a roof for an elderly lady subsisting on SS. One fun one was we bought parts for a high school auto mechanic program, enabling them to fix cars and donate them. We also bought some winter coats for local school counselors to give to needy kids. Small scale, low budget, high impact. We like it.

YMMV, but we avoid large charities where our money would just be a drop in the bucket.