The logic of charity

[Kire]

One thing I've always wondered is what is the best way to be charitable. The great question is this...now, or later?

If you give now, then you know that your efforts are used, and you can have that peace of mind...but, it's money you no longer have, that you can't use in your young life. If you were to hold onto it, your value could appreciate and be potentially worth more depending on what you invest in the future (be it a house, or even appreciating in the bank). Plus, human suffering is immeasurable throughout time, and it's not like we're going to run short on supply of it.

The other way is the "wealthy old man" technique, which is giving towards the end of your life. At this point, you know what you don't need anymore, and can give accordingly, having made what you need to make to live your life most effectively...but who's to say you'll even get to this point? There are no gaurantees, and what was once "I was going to give" becomes, "I gave nothing at all." I hate to be a downer, but life just isn't that predictable, and you might need that cash for your own well being to keep yourself or someone else you love alive.

So, which way do you lean?

[Denmo]

Re: The logic of charity

The problem with that is, you need to get wealthy, and you need to grow old, and with today's standards that'll only happen to small percentage of us.

Most people don't realize that a lot of what they have right now they really don't need. It's healthier to give away what you don't need continuously than to keep it, buy junk with it now, and give it back later.

[Kirin]

Re: The logic of charity

I've always prefered to give immediately, given that the $5 I'm donating would be better spent towards homeless people than the pizza I was gonna buy with it. It'd be eaiser for me to give a little every day than to one day chop off a large chunk of my funds.

My biggest worry is whether or not the money will be pocketed or actually given to the people who need it. Some of the biggest embezelling scams you hear about come from people who were working for charities.

[Karr Lord of Chaos]

Re: The logic of charity

that is an interesting kanundrum. ive often wondered it myself.

i personaly have choosen to give small amounts now as a show of good faith towards future investment in the world. i will save all large scale donations and projects for when/if i become rich and of course full scale giveaways when my life is about to hit empty.

money is needed now, and though human suffering is endless, every dollar you put towards a charity helps to hasten that desired cure or help put food on a homeless persons table tonight. you cirtainly feel special for giving away money to someone less advantaged then yourself, and im cirtin those reciving aid also are greatful for reciving suport during their tough times.

its all up to the individual i supose. long term benifits as mentioned here are only valid for large donations, but mini donations dont save you much so give freely and do so now.

[Nixon]

Re: The logic of charity

I try to give when I have some extra money. I always want to know where my money is going.

If I ever have questions about non-profit donations, I check with the BBB "wise giving alliance" @ http://www.give.org

[Wavelength]

Re: The logic of charity

Time Value of Money applies to just about everything. If you have a decent income, and can put some of it into a high-return, consistent investment, you will get wealthy. Finding a high-return, consistent investment is far easier said than done, of course.

You are right that human suffering can be consistent throughout time, but it's always in different ways. There's no reason, of course, that you have to choose between "now" or "later" and completely ignore the other one.

I give to a charity when I think the particular, current cause, is really really worthwhile. For example, relief efforts after the tsunami hit Asia. Or Wikipedia. Cancer research seems like it's always a good cause, but try to figure out exactly what's being done with your money, since the outcomes there might vary wildly...

A couple months ago I read in a book that the Bill & Melinda Gates foundation can save a life in Africa for approximately $80 (the cost to save a life in the developed world is over a million). That really changed the way I look at things. I tend to think about stuff like this a lot before I go ahead and act on it but I'm probably going to send a few hundred over there... being able to save multiple lives for something so simple is amazing. I believe Warren Buffet recently pledged like 3/4 of his personal wealth (which is currently over $50 BILLION) to that foundation recently.