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Started By
Message
re: High Income and Charity
Posted on 12/9/22 at 1:30 pm to Hopeful Doc
Posted on 12/9/22 at 1:30 pm to Hopeful Doc
I'm not a high income earner (100K) a year...but we tithe $20/week at the Catholic Church, plus buy a bunch of food for the Church's kitchen they use for needy families.
We also donate money to my wife's rural village church in Alaska when we get extra funds.
This year we plan on going to Once Upon a Child (soon) and buying needy families clothes for Christmas.
There are creative ways of charity than just donating to charity groups itself.
We also donate money to my wife's rural village church in Alaska when we get extra funds.
This year we plan on going to Once Upon a Child (soon) and buying needy families clothes for Christmas.
There are creative ways of charity than just donating to charity groups itself.
This post was edited on 12/9/22 at 1:31 pm
0
Posted on 12/9/22 at 1:48 pm to Hopeful Doc
400k is roughing it
At 400k you can’t afford to eat steak and lobster every day like food stamp people
At 400k you can’t afford to eat steak and lobster every day like food stamp people
Posted on 12/9/22 at 1:50 pm to LSUFanHouston
I use to give more money to charity, but many charities are fronting for the woke causes.
This includes most mainline churches.
Now if I want to help someone, I do it directly, not filtered through a 501c that spends millions to raise millions.
Read about charitable remainder trusts and the vehicles used by the wealthy to “give.”
This includes most mainline churches.
Now if I want to help someone, I do it directly, not filtered through a 501c that spends millions to raise millions.
Read about charitable remainder trusts and the vehicles used by the wealthy to “give.”
Posted on 12/9/22 at 1:56 pm to Hopeful Doc
quote:
Nonsense. It’s not top tenth percentile, but it’s pretty fricking high.
It’s top 3 fwiw
This post was edited on 12/9/22 at 1:57 pm
Posted on 12/9/22 at 2:53 pm to MrSpock
Ya that's it. Been on the phone all damn day 
Posted on 12/9/22 at 2:57 pm to makersmark1
Charities also waste a shite ton of money on bloat. I'd rather give my money to things where I can see a visible difference
Posted on 12/9/22 at 3:04 pm to TheOcean
Yeah ngl I’d rather just buy the bums the liquor personally than give it to Salvation Army or whatever
Posted on 12/9/22 at 4:23 pm to LSUFanHouston
There is something not quite right with the language in the OP.
Anyone agree?
quote:example.
always fantasized me
Anyone agree?
Posted on 12/9/22 at 5:12 pm to TigerDeBaiter
quote:
400k is not high income with a family.
I love this place.
Posted on 12/9/22 at 8:52 pm to LSUFanHouston
quote:
I evalulate clients that way becuase it's not too often you have two high income earners married to each other. An individual making 200K a year is not that wild these days.
This makes no sense at all.
Posted on 12/9/22 at 9:55 pm to Riverside
I’m guessing his point is that 400K for two folks as a single HH income is meaningfully more well off than a 200K single individual. Economies of scale to marriage drives even better free cash flow on the married HH even with income per person the same.
Posted on 12/9/22 at 9:56 pm to LSUFanHouston
We don’t currently contribute to a charity outside of clothing donations. Too many unknowns in career and family and the compounding value of those charitable givings are worth too much as I push for us to be financially independent as early as possible.
Instead, I try to be generous with my time by mentoring students through a couple universities.
Instead, I try to be generous with my time by mentoring students through a couple universities.
This post was edited on 12/9/22 at 9:58 pm
Posted on 12/10/22 at 6:56 am to lynxcat
Honestly my donations have decreased since the standard deduction was increased and I can no longer write it off. I have to donate to my kid’s school and do a few charity raffles/events over the year (Hog’s, St Jude) but not as much as I used to sadly.
Posted on 12/10/22 at 9:14 am to LSUFanHouston
quote:
Oh there's absolutely a category of people who make good money but have high debt loads. It's hard to build wealth while still servicing that debt. Even in real estate, the wealth accumulation doesn't really start to take off until you get the debt down.
When I was in med school, I got the feeling that at least like 70% (probably more like 80+) of the class was taking out loans for tuition and living. It kinda surprised me somewhat because a large percentage of the class came from a family where at least one parent was a physician.
A ton of the people I have worked with during my training years have 200K plus in loans. Caribbean or DO students tend to have even more.
I knew a guy that had 500k+ in loans and wanted to move back to Cali to work. I thought he was nuts and should head to some some low cost of living place with no state income tax to pay it all down.
This post was edited on 12/10/22 at 9:19 am
Posted on 12/11/22 at 6:24 am to LSUFanHouston
No clue where we fall on the income scale but we have been pretty consistent over the last several years.
12k a year to our church
12k a year to our kids school
15k a year to the non profit where the wife is a board member
10k a year to the university we graduated
Another 4-5k a year usually buying meals for random service people or clergy at restaurants
12k a year to our church
12k a year to our kids school
15k a year to the non profit where the wife is a board member
10k a year to the university we graduated
Another 4-5k a year usually buying meals for random service people or clergy at restaurants
This post was edited on 12/11/22 at 6:26 am
Posted on 12/11/22 at 6:48 am to LSUFanHouston
My mortgage is too damn high for any significant charitable contributions. I usually give a couple of grand to the local schools and other local charities.
Posted on 12/11/22 at 2:41 pm to TheOcean
quote:
Charities also waste a shite ton of money on bloat. I'd rather give my money to things where I can see a visible difference
Like LSU TAF or cancer research
Posted on 12/11/22 at 5:30 pm to Hopeful Doc
I refuse to give money to any big donation company such as Salvation Army and along those lines. 90% never see anyone but the people that work there. I donate in other ways. I generally do about 10 Christmas tree angels a year and spend 100-200 each on those. I don’t food to soup kitchens and when I hear a family in need I give them 400-500 visa gift card for groceries.
Posted on 12/12/22 at 2:30 am to LSUFanHouston
People making 500k aren't giving 20% of it away. They are already giving damn near half to Ukraine.
Posted on 12/12/22 at 10:17 pm to TigerDeBaiter
quote:
400k is not high income with a family.
You must think our combined $140k income has us living in squalor.
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