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The biggest drawback is that you may have the intention of giving money in the future, but you end up never doing it. Unless you put it into some guaranteed-for
by yboris 6y ago
The biggest drawback is that you may have the intention of giving money in the future, but you end up never doing it. Unless you put it into some guaranteed-for-charity vehicle like a Donor Advised Fund.
Giving now, even if you are also putting some off to give later, is the better course of action.
A good read: https://concepts.effectivealtruism.org/concepts/timing-of-philanthropy/ https://concepts.effectivealtruism.org/concepts/timing-of-ph...
> giving now creates a habit of giving, and removes the temptation to spend savings which were originally intended to be donations.
- sbarre 6y agoI completely agree with you.. Your point in the other thread about the compound benefits of giving now articulated much better what I was also trying to say :-)
- silicon2401 6y ago> giving now creates a habit of giving, and removes the temptation to spend savings which were originally intended to be donations. I've donated money, it didn't become a habit > The biggest drawback is that you may have the intention of giving money in the future, but you end up never doing it. Unless you put it into some guaranteed-for-charity vehicle like a Donor Advised Fund. This is a personal point whereas I was coming at it from just a numerical point. > Unless you put it into some guaranteed-for-charity vehicle like a Donor Advised Fund. Not familiar with this, but if it's a way to invest money while forcing the money to only be used for charity, then yes I'd consider that the optimal choice for anyone who for some reason is charitable but wouldn't want to give charity down the road