How much wealth would you accumulate before giving the rest to charity?
- Thread starter Loppan Torkel
- Start date
I hope little idealism will not hurt...
timtofly
One Day
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Has any one felt greedy? Greed to me is a judgment call about how we feel another person is greedy. See below.
I am shocked that a lawyer cannot find a better word!! Your follow up post did little to come up with a better word also. How do we even know when a person feels greedy? Maybe you could enlighten us on how that feels?
Spoiler :
tl, dr IMO, holding back doing what one feels they should do, is greed.
Money is not the prime asset in life. Time is.
timtofly
One Day
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One can be greedy with time also, but how can being greedy with it further anything? Giving your time away is also a blessing.
Manfred Belheim
Moaner Lisa
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I could make £1 million last the rest of my life if I were careful, £2 million would make it very comfortable. I might like 4 or 5 just so I could go a little crazy, but any more than that I'd never use anyway. I'd probably like to share most of it out amongst friends and family before charity though.
innonimatu
the resident Cassandra
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Very true.
Never.
I'll rather invest my time in fighting against the need/usefulness for any "charities" than in amassing great wealth. Because amassing personal wealth is part and parcel of the process which creates the very "market" that then justifies those charities.
JohnRM
Don't make me destroy you
Disclaimer: After I graduate and have repaid my student loans.
Forecast:
Core Living Expenses plus Discretionary Budget: $700/mo. (Grocery, Electricity, etc.)
Investments in Retirement Accounts & Other: $500/mo. (Retirement savings)
Vacation & High-Cost Items Budget: $800/mo. (Vacations, if [car payments], etc.)
Known Charitable Expenditures:
--------------------------------------
JohnRM's College Grant 1: $3,000/yr (2 x $1,500) if (gross income < 55,000/yr)
JohnRM's College Grant 2: $3,000/yr (2 x $1,500) if (gross income > 55,000/yr)
Two foster children: $3,600/yr ($1,800 ea.)
Community Hands Project: $500/yr.
Religion-based Expenses: $500/yr.
Thanksgiving dinner for 200: $1,000/yr.
Christmas dinner for 200: $1,000/yr.
--------------------------------------
Total: $9,600-12,600 in dedicated expenditures
It would appear that I'd spend about $24,000 per year and donate whatever I earn over the top. I may require a truck within the near future, so my cost of living may increase slightly. With an earnings projection of about $34,500 after taxes, total charitable expenditures should be equal to roughly...
30% of my net income ($34,000) at $50,000/yr Gross -- Low-end income projection
38% of my net income ($40,000) at $60,000/yr Gross -- High-end income projection
Note: I could earn more, but I'd rather just work less.
If we're talking lump sum...say I won the lottery for 200 million dollars. I would keep about $5 million to myself and give away the rest.
Forecast:
Core Living Expenses plus Discretionary Budget: $700/mo. (Grocery, Electricity, etc.)
Investments in Retirement Accounts & Other: $500/mo. (Retirement savings)
Vacation & High-Cost Items Budget: $800/mo. (Vacations, if [car payments], etc.)
Known Charitable Expenditures:
--------------------------------------
JohnRM's College Grant 1: $3,000/yr (2 x $1,500) if (gross income < 55,000/yr)
JohnRM's College Grant 2: $3,000/yr (2 x $1,500) if (gross income > 55,000/yr)
Two foster children: $3,600/yr ($1,800 ea.)
Community Hands Project: $500/yr.
Religion-based Expenses: $500/yr.
Thanksgiving dinner for 200: $1,000/yr.
Christmas dinner for 200: $1,000/yr.
--------------------------------------
Total: $9,600-12,600 in dedicated expenditures
It would appear that I'd spend about $24,000 per year and donate whatever I earn over the top. I may require a truck within the near future, so my cost of living may increase slightly. With an earnings projection of about $34,500 after taxes, total charitable expenditures should be equal to roughly...
30% of my net income ($34,000) at $50,000/yr Gross -- Low-end income projection
38% of my net income ($40,000) at $60,000/yr Gross -- High-end income projection
Note: I could earn more, but I'd rather just work less.
If we're talking lump sum...say I won the lottery for 200 million dollars. I would keep about $5 million to myself and give away the rest.
GhostWriter16
Deity
No wonder you support progressive taxation
Seriously though, 40 billion? Is there any particular use you would have for that much? I was deliberately shooting on the high end for ONE billion (Admittedly, I did leave funding open for funding a Presidential candidate.)
No wonder you support progressive taxation
Seriously though, 40 billion? Is there any particular use you would have for that much? I was deliberately shooting on the high end for ONE billion (Admittedly, I did leave funding open for funding a Presidential candidate.)
Political attack ads.
GhostWriter16
Deity
That's kind of funny actually since we were both thinking along the lines of "Massive amounts of money to manipulate the political process" (One thing we'll probably agree on, I'd certainly use it to minimize the effect of big money later on.) Although I was thinking along the lines of "Get a libertarian elected" and you were thinking "Attack the Republicans
"GhostWriter16
Deity
If they could get this close to getting Mitt Romney elected, do you REALLY think it would be that hard to get Gary Johnson elected?
Seriously though, I find your revulsion to libertarians odd, sure we disagree with you on economic issues, but the Republicans disagree with you on just about everything and yet you don't seem to hate them as much.
If they could get this close to getting Mitt Romney elected, do you REALLY think it would be that hard to get Gary Johnson elected?
Seriously though, I find your revulsion to libertarians odd, sure we disagree with you on economic issues, but the Republicans disagree with you on just about everything and yet you don't seem to hate them as much.
It's not really revulsion. I'm not disgusted by them. I simply have no real respect for them because they have a completely ridiculous world view.
GhostWriter16
Deity
A Libertarian could actually work with a Democratic congress (Or a Republican congress) which might actually put an end to the gridlock. Unlike the Republicans, the Libertarians will not stubbornly keep nationbuilding and pursuing the war on drugs.
Of course, we'd also cut taxes and regulations which I know you obviously wouldn't agree with.
Gary did fairly well in New Mexico.
I need about $10 million to create an easily sustainable lifestyle. $5 million to buy off the rest of my family.
After that, I don't know if I'd give the rest to charity per say (though 10% of my 'sustainable lifestyle) would go to the desperate poor. However, I'd fund higher risk, higher reward scientific and industrial development programs.
After that, I don't know if I'd give the rest to charity per say (though 10% of my 'sustainable lifestyle) would go to the desperate poor. However, I'd fund higher risk, higher reward scientific and industrial development programs.
Quackers
The Frog
Only Cutlass is getting into the proper figures here. Seemingly this thread has a lot of posters who want change, £10m? thats not enough.
I'm going for £100 billion but at my death my family would get a significant portion and a few billion to some charities.
I'm going for £100 billion but at my death my family would get a significant portion and a few billion to some charities.
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