Last year, I pitched the idea to ChooseFI’s Brad Barrett to discuss philanthropy and financial independence—a topic often overlooked in the FI community.
It feels surreal to be on the podcast. Not just because it’s one of the most listened to finance podcasts in the world, but because the ChooseFI community has done so much for me personally. It was at my first ChooseFI Boston meetup that I met my very first early retiree. At the time, I thought to myself, “Wow! How amazing. If he can do this, so can I.”
In recording this podcast, I was hoping to be a similar inspiration for others. To show that it’s possible to both retire early and to give back along the way.
Since the episode aired, I've heard of many people making significant and generous commitments to give. Some formally took the One For the World Pledge and others took the Giving What We Can Pledge. I also know that The Life You Can Save received some direct one-time donations as a result of the podcast. As did the Clean Air Task Force.
This makes my heart so full.
Jack Lewars, formerly the executive director of One for the World and board member for Yield & Spread, joined me on the episode. He is brilliant, funny, and drops some major truth bombs about our role in ending extreme poverty. I have no doubt he had a major role in encouraging these generous people to give back.
On the episode, Brad, Jack, and I discuss the following:
Taking a giving pledge
Building a framework for giving
Should you get to FI before you give?
Compound impact
Emotional side of giving
Volunteering and time donation
Donating appreciated stock
DAFs
And we explore some more tactical questions:
Is it better to give to charity in a lump sum versus incrementally?
What are the tax implications of donating?
What are the benefits of using donor-advised funds?
Want to learn more about how to give back on your path to FI?
Check out these free resources!
Disclaimer:
The information contained in the Yield & Spread website, course materials and all other related content is provided for informational and educational purposes only. It is not intended to substitute for obtaining accounting, tax, or financial advice, and may not be suitable for every individual. Yield & Spread is not a registered investment, legal or tax advisor or a broker/dealer.