About this episode
In this episode: building a giving framework, the giving pledge, compound impact, donor advised funds, and different ways to give. Is it better to give to charity in a lump sum versus incrementally? What are the tax implications of donating? What are the benefits of using donor advised funds? This week we answer these questions and more with the help of Rebecca Herbst and Jack Lewars as we discuss charitable donations and effective giving while on the FI journey. A large part of FI is taking actionable steps to improve your life, but this journey also opens up opportunities to improve the life of others. While navigating donations while on the path to FI can seem tricky because we are so focused on attaining our FI numbers, there are still many ways you can give back and make a difference. Creating the habit of effective giving can help you leave an impact on yourself and the world at large! There are many resources available that can help calculate what you can give while remaining on the FI track, as well as help you see how your donations are making a difference! Rebecca Herbst & Jack Lewars: Yield and Spread: yieldandspread.org Rebecca's Coaching Program: Coaching for do-gooders 1 For The World: 1fortheworld.org Jack's LinkedIn: Jack Lewars Timestamps: 1:37 – Introduction 4:24 – The Giving Pledge 11:59 – Building A Framework And Effective Giving 23:20 – Should You Get To FI Before You Give? 33:12 – Compound Impact 39:48 – Feedback From Giving And Fun Funds 51:08 – Different Ways To Give 61:09 – Donating Appreciated Stocks 66:59 – Conclusion Resources Mentioned In Today's Episode: Join Your Local ChooseFI Group "The Life You Can Save: How to do your part to end world poverty" by Peter Singer School of Hard Knocks "Practical Ethics" by Peter Singer GiveWell The Life You Can Save "Die With Zero: Getting All You Can from Your Money and Your Life" by Bill Perkins Yield & Spread's DAF Series "Doing Good Better: How Effective Altruism Can Help You Help Others, Do Work that Matters, and Make Smarter Choices about Giving Back" by William MacAskill Subscribe to The FI Weekly! More Helpful Links and FI Resources: Top 10 Recommended Travel Rewards Credit Cards Empower: Free Dashboard to Track Your Finances CIT Bank Platinum Savings Account M1 Finance: Commission-Free Investing, 1-click rebalancing CashFreely: Maximize Your Cash Back Rewards Travel Freely: Track all your rewards cards and points Emergency Binder: For Your Family's Essential Info (code 'CHOOSEFI' for 20% off) Student Loan Planner: Custom Consult (with $100 Discount)