Pat Shepherd, from the One Percent Collective, is my special guest today.
For many investors, it's important to have a sense of meaning behind the act of investing. Goas are awesome, powerful tools to achieve what you want, but purpose can make the whole think take on another dimension entirely.
After you and your own look like they'll be on track for being fine, even before they actually are, I see real value in the act of generosity. It's obvious the benefits to the donee, but to the donor, I think some tangible and measurable benefits could also apply.
So here's the challenge - if you can*, donate a percentage of your income to a charity - simple.
If you haven't observed an increases in your income after a year or so (after inflation), then consider this challenge a fail if you like - I certainly won't judge you either way!
At least have a think about it - Investing shouldn't be about greed and isolationism - ideally it should be about abundance and community. Do you want to create a better country in a way far more efficient than a government could ever create - #getgiving!
*check out some rough guidelines here if you're new to any space of generosity or philanthropy:
- Regular donations are far easier than one-off payments, much like dollar cost averaging with investments can be easier to stick with compared to be lump-sum investments.
- Only donate an amount that you're able to lose. Don't go into debt to donate!
- Don't feel bad if you can't do this, but if you've never tried it, I don't think it's harmful to give it a go.
- Don't forget to that donations to registered charities are tax-deductible!
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