When do you need a donation plan?
When you generate a return on your investments in excess of what you will need, think of giving to charity. Or if you earn much more than you need for your living expenses, think charity! But how much is enough? If your investments are 50% debt and 50% equity, a withdrawal rate of 3% is considered conservative and safe. Check that out with a google search for "safe withdrawal rate", if only to satisfy yourself. If 3% of your investments is more than you require, consider giving!
There are millions on planet earth who do not have access to enough food for sustenance, who do not have access to clean food and water, who do not have access to good health care and essential medicines, who have not even heard of computers or the internet.
If you are a member of a Category I family (liquid assets net of debt of more than $1 million) you already belong to a privileged club of less than one percent of the worlds population. So, donate!
Are you just an average guy? Then head over here for a tongue-in-cheek survey of 'average guy' facts.
What can you donate?
Your time can make the most difference, even if only on a part time basis. If you like to volunteer, go here. Next best is to donate money, though you do need to bear in mind that some of it will go necessarily to administrative costs. And if you plan to donate a really significant amount, ensure that most of it reaches the persons the money is intended for and that it does not end up creating an "entitlement mentality". It is better to teach a man to fish than to provide fish for just a single meal!
Where to donate? Here are some ideas:
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