This year, I am investing to give with 100% of my donation budget. I am moderately convinced by the arguments in favor of giving later. I’m not entirely convinced—in particular, for some types of work (such as foundational research), it seems more important to do early—but the state of knowledge on the question seems to be improving rapidly. If (to simplify) the optimal time to donate is either now or centuries from now, then it seems much less harmful to incorrectly donate a few years too late than to incorrectly donate centuries too early. So the safer choice is not to donate anything right now.
My biggest concern with investing to give is that I will become less altruistic over time, and won’t end up donating the money. I considered putting my donation budget into a donor-advised fund, but I decided against it for the reasons explained here.
Alternatively, I could donate a little of my donation budget and invest the rest, but I’m willing to bite the bullet on the argument that all altruistic funds on the margin should be invested.
(My income is unusually low this year, so I barely have a donation budget anyway. But this is what I’d do if I had more money.)
There’s a good chance I will give to the long-term investment fund once it’s up and running, depending on how much I like its investment portfolio. I think the optimal altruistic portfolio (on the margin) looks pretty weird, and they might not want to invest like that. (It might be entirely rational for the long-term investment fund not to invest in a way that looks too weird, because that could make it harder to attract donations.)
EDIT: I realized I only answered half of your question. RE my long-term plan, I honestly don’t know what to do to reduce the risk of value drift if I don’t end up giving to the long-term investment fund. Reducing value drift seems like an important open problem.
This year, I am investing to give with 100% of my donation budget. I am moderately convinced by the arguments in favor of giving later. I’m not entirely convinced—in particular, for some types of work (such as foundational research), it seems more important to do early—but the state of knowledge on the question seems to be improving rapidly. If (to simplify) the optimal time to donate is either now or centuries from now, then it seems much less harmful to incorrectly donate a few years too late than to incorrectly donate centuries too early. So the safer choice is not to donate anything right now.
My biggest concern with investing to give is that I will become less altruistic over time, and won’t end up donating the money. I considered putting my donation budget into a donor-advised fund, but I decided against it for the reasons explained here.
Alternatively, I could donate a little of my donation budget and invest the rest, but I’m willing to bite the bullet on the argument that all altruistic funds on the margin should be invested.
(My income is unusually low this year, so I barely have a donation budget anyway. But this is what I’d do if I had more money.)
What’s your long-term plan to ensure your invested money goes to good causes? Might you give to a Founders Pledge long-term investment fund?
There’s a good chance I will give to the long-term investment fund once it’s up and running, depending on how much I like its investment portfolio. I think the optimal altruistic portfolio (on the margin) looks pretty weird, and they might not want to invest like that. (It might be entirely rational for the long-term investment fund not to invest in a way that looks too weird, because that could make it harder to attract donations.)
EDIT: I realized I only answered half of your question. RE my long-term plan, I honestly don’t know what to do to reduce the risk of value drift if I don’t end up giving to the long-term investment fund. Reducing value drift seems like an important open problem.