Congratulations! 75% of your post-tax income is impressive. I am at 63%, but I don’t think I can cut much more of my living expenses (currently living at 120% of the US Federal poverty level). I guess I must be saving too much for retirement. As you, I am also debating how much to contribute to animal welfare, so your thoughts are useful.
Thanks for your reply. I don’t know your financial situation so I don’t want to make assumptions but I think saving for retirement or building some general runway is important, and I would never want you to think that you aren’t doing enough, especially if you are donating 63% (!) of your income. That’s fantastic! And there will always be someone who donates more than you 😉 it’s not a race! 63% might be what works for you, and that’s great.
I should also note that while I have always been frugal, I was only able to donate this much because for a large part of the year, I didn’t have to pay anything for housing (and, sometimes, meals), and I didn’t count “immediate” donations of the kind mentioned above as income, so this maybe explains the high percentage. In 2024, I will likely move, and other changes in my personal life will likely mean I will get a lot closer to ~50% or less.
Congratulations! 75% of your post-tax income is impressive. I am at 63%, but I don’t think I can cut much more of my living expenses (currently living at 120% of the US Federal poverty level). I guess I must be saving too much for retirement. As you, I am also debating how much to contribute to animal welfare, so your thoughts are useful.
Hi Diego!
Thanks for your reply. I don’t know your financial situation so I don’t want to make assumptions but I think saving for retirement or building some general runway is important, and I would never want you to think that you aren’t doing enough, especially if you are donating 63% (!) of your income. That’s fantastic! And there will always be someone who donates more than you 😉 it’s not a race! 63% might be what works for you, and that’s great.
I should also note that while I have always been frugal, I was only able to donate this much because for a large part of the year, I didn’t have to pay anything for housing (and, sometimes, meals), and I didn’t count “immediate” donations of the kind mentioned above as income, so this maybe explains the high percentage. In 2024, I will likely move, and other changes in my personal life will likely mean I will get a lot closer to ~50% or less.