Philanthropy

[Julia]

Last night I heard part of an interview by Monica Attard of ABC Radio with Dick Smith. They discussed amongst other things his attitude of giving substantial amounts to various "needy causes". These appeared to include the standard charities like the Smith Family, St. Vincent de Paul and the Salvation Army but apparently he also frequently responds to individual requests from families, i.e. the provision of a wheelchair for a disabled family member etc.

This started me wondering about the average person's attitude to money - how much is enough, when do we begin to want to share with others, if ever,etc. I'd be interested to know from forum members, given that you have substantially more than you anticipate you will need to fund your own and your family's existence, what would you feel like doing with the surplus?

e.g. would you (a) seek out some appropriate charities, (b) spend wildly just because you can, (b) hold onto it, because you never know what the future might bring and you'd hate to ever be poor again?

??????
Julia

 

[Dwib]

Hi Julia,

I have found this to be an interesting subject. A lot of people I think would like to give more but as you do come into money expenses seem to rise which sucks up that extra cash that you start earning. In my opinion, just as in investing, giving requires a lot of discipline. I like to give on a regular basis but I must admit I haven't adjusted the amount for awhile even though my total income has increase over the years. Something I need to look at.

Regards
Derrick.

 

[canny]

Most people always live at a level just above their income - therefore whatever they are earning, they seem to spend a bit more than that. They never or rarely realise they have excess, until they hit the real 'big money'
Sad but true.
My philosophy is family first - though we try and do one major project a year to help a charity (through our business).

 

[Knobby22]

Then there is the Steve Vizard method.
Set up a trust so your charity is 100% deductable then buy art works to ingratiate yourself and properties that can be used by family members and when you go to court you can say that you are a helper of the community.

I agree with Alan Kohler, he is a classic pyschopath.
One major trait of a psychopath is how charming they are.

 

[Milk Man]

My threshold for giving to less fortunate friends and family is $2mill
My threshold for giving significantly to charity is $10mill

The reason is so I can keep giving (making worthwhile donations) while still living the good life myself.
That's why I trade!

Money is great but you can't take it with you when you die.

 

[RichKid]

I give a minimum dollar amount a year and I'm looking to increase that every year via a percentage of income. If there is a tax deduction in it then it helps to fund next years donation too (not all donations are tax deductable). I'm not the richest guy around atm so it is difficult to find the cash sometimes to pay expenses but I do what I can by volunteering my time as well- thought I'd mention this as sometimes people say they have no money so are unable to help out- you don't need money to help people. I like to give food and medicines directly whenever possible. Just speaking to people who need help and passing on advice (where I think I'm competent to give it or know I can help) is another way I help. We can all do something to help other beings. This is a great thread, let's keep it going to keep things in perspective.

Bill Gates gets my vote for the amount of money he contributes through his charities, not sure what the politics of it is but at least there is an example being set and people would benefit.

 

[clowboy]

Richkid,

I knew that Bill gates was one of the more generous rich types out there but when watching the LIVE 8 concert it was stated that to date he has given away $5 billion to charity etc.

While it is only 10% of his net worth (still a good target) it is a damn lot of money.

 

[RichKid]

Richkid,

I knew that Bill gates was one of the more generous rich types out there but when watching the LIVE 8 concert it was stated that to date he has given away $5 billion to charity etc.

While it is only 10% of his net worth (still a good target) it is a damn lot of money.

Hi Clowboy,
Yep, 10% is quite generous, especially as he hasn't retired and is still going strong with his business ideas. I hear his wife helps with things as well. Soros is supposed to be another one who gives freely. Maybe I'll cheer guys like him when he takes from big instos or hedge funds and redistributes to the poor. Although he did cause some strife (according to Mahathir) during the Asian financial crisis- remember that!?

Good to see rich people giving something back. I only wonder how much of it is really well spent. There must be lots being eaten up in salaries and other costs.

 

[wayneL]

phi·lan·thro·py Audio pronunciation of "philanthropy" ( P ) Pronunciation Key (f-lnthr-p)
n. pl. phi·lan·thro·pies

1. The effort or inclination to increase the well-being of humankind, as by charitable aid or donations.
2. Love of humankind in general.
3. Something, such as an activity or institution, intended to promote human welfare.

========================================================

So often we people speak of philanthropy, it is usually in reference to meanings 1 & 3 above. We speak of how much money to give...get rich so we can give more etc.

I want to encourage everyone to embrace meaning 2.

We can edify each other simply by being polite and courteous
give someone a smile
lend an ear to someone who's down
help an old lady across the road
join the local Lions club
etc etc etc

We can all do this whether rich or poor. Giving a lot of money away is great, but what about the lonely old person that is just starving for some company.

Cheers

 

[ob1kenobi]

phi·lan·thro·py Audio pronunciation of "philanthropy" ( P ) Pronunciation Key (f-lnthr-p)
n. pl. phi·lan·thro·pies

1. The effort or inclination to increase the well-being of humankind, as by charitable aid or donations.
2. Love of humankind in general.
3. Something, such as an activity or institution, intended to promote human welfare.

================================================== ======

So often we people speak of philanthropy, it is usually in reference to meanings 1 & 3 above. We speak of how much money to give...get rich so we can give more etc.

I want to encourage everyone to embrace meaning 2.

We can edify each other simply by being polite and courteous
give someone a smile
lend an ear to someone who's down
help an old lady across the road
join the local Lions club
etc etc etc

We can all do this whether rich or poor. Giving a lot of money away is great, but what about the lonely old person that is just starving for some company.

Cheers

Wayne, I couldn't agree more. So often we ease our conscience by donating money (don't get me wrong, there are some very worthy causes out there)! Rarely do people see the other alternative of being present to someone else in need. I did pastoral care work in hospitals for two years, mainly working with the dying. It really drove the importance of this home to me and was incredibly rewarding. I do believe you get back what you put into life and what you contribute to the world. Indeed ideally, the world should be a better place for your being here, Mother Theresa of Calcutta said that! Worth remembering, as is the fact the money is merely a tool. What we do with it gives it value!

Cheers!

 

[Milk Man]

Indeed ideally, the world should be a better place for your being here, Mother Theresa of Calcutta said that!

Thats the meaning of life for me- that and reproducing. What else are we here for?

 

[Gringotts Bank]

Twiggy - 65M$

http://au.news.yahoo.com/a/19390350...ingle-largest-donation-in-australian-history/

 

[IFocus]

Twiggy - 65M$

http://au.news.yahoo.com/a/19390350...ingle-largest-donation-in-australian-history/

Talking to some one today who has had dealings with Twiggy...........all I can say is none of it was positive and the expletives cannot be repeated here.

 

[Julia]

Talking to some one today who has had dealings with Twiggy...........all I can say is none of it was positive and the expletives cannot be repeated here.

Was that 'someone' also prepared to put the same dollar value as Twiggy has today announced into scholarships?

Let's remember that he doesn't have to donate a single dollar of his wealth. But he does it, and immediately the knives are out. The ABC Radio reporter interviewing him on this asked 'what strings were attached to this generosity: what did he expect in return?"

For god's sake, no wonder philanthropy in this country is so minimal.

 

[sydboy007]

It doesn't have to be just about the money. I admire Bill Gates because it's his drive and passion for solving some of the greatest problems we face - like Malaria or HIV - and he brings the power of the free market in determining where to "invest" his money.

Charity could mean helping someone learn to read, or with their maths or...

Quite often people use lack of money as an excuse, but most of us have some free time we could give to help others if we really wanted to.

I've found nothing more rewarding in life than when you see that AH HAH moment in a persons eyes as the spark of understanding lights them. I'm very much looking forward to spending my middle life doing some teaching once I've gained a reasonable independence from needing to work for a living.