Donating a Year’s Salary to Our Donor-Advised Fund

We started this year dedicating ourselves to $2,680 in charitable donations, ten times our previous, pitiful contributions. Just a few days ago we officially fully funded our donor-advised fund, meaning we could theoretically maintain that $2,680 each year for the rest of our lives (we haven’t touched on too many specifics of our spending on here, but for context, we live on a little more than $36k a year, including rent, and additionally give $10k to family each year).

According to the 4% rule of thumb, we’d need $67k, but we rounded up to $70k for good measure. Coincidentally, my starting salary as a new engineering grad six years ago was $67k! Due to the magic of compounding returns and some nice salary bumps along the way, this contribution only delays financial independence by about six months for us, and we should still be able to reach our goal of 2019!

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Fluffster with money on snout

Letting It Rain for a Good Cause

It’s not like we have never donated to charities before. We’ve sent the Red Cross the odd donation, and we’ve donated on behalf of coworkers running for charity. We’ve even pitched in for a couple Go Fund Me’s for friends in tough situations. It was just never a lot – $200-$300 a year at the most.

This year, we’re 10Xing that.

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