I have taken the GWWC pledge and have donated roughly $50k over my lifetime, but this year I plan on donating $0 for tax reasons.
Briefly, I spent a good chunk of this year underemployed, and have reason to think my marginal tax rate will be higher next year than this year, so it’s more cost effective to batch for next year. Also, the US tax system of standard deduction vs itemized means that batched donations are almost always more tax effective. (happy to explain more if interested!)
I do plan on donating slightly more than the 10% of pretax salary, because I put some of the charitable funds towards higher-risk bets that ended up paying off (on Biden winning, $2k earned on $5k invested, and a personal bet with a friend for $65 earned on $35 invested). The charity framing helps me take justify riskier bets with high EV, compared to personal investing where the goal is stability.
As for causes, I’ll probably throw it into a donor lottery this year (in the past I’ve just been going through GiveWell but lotteries seem interesting).
I have taken the GWWC pledge and have donated roughly $50k over my lifetime, but this year I plan on donating $0 for tax reasons.
Briefly, I spent a good chunk of this year underemployed, and have reason to think my marginal tax rate will be higher next year than this year, so it’s more cost effective to batch for next year. Also, the US tax system of standard deduction vs itemized means that batched donations are almost always more tax effective. (happy to explain more if interested!)
I do plan on donating slightly more than the 10% of pretax salary, because I put some of the charitable funds towards higher-risk bets that ended up paying off (on Biden winning, $2k earned on $5k invested, and a personal bet with a friend for $65 earned on $35 invested). The charity framing helps me take justify riskier bets with high EV, compared to personal investing where the goal is stability.
As for causes, I’ll probably throw it into a donor lottery this year (in the past I’ve just been going through GiveWell but lotteries seem interesting).