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[–] 4 points 1 week ago (1 child)

Right, but that's why you (I assume) aren't a deci-millionaire. Maybe you would be if you invested that money instead of being generous with it.

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  • [–] 2 points 1 week ago*

    you (I assume) aren’t a deci-millionaire.

    Having $100,000 in net worth (especially as an older adult) isn't that rare. 😀

    Its those deca-millionaires that are close to (but not quite) in the 1%, and no I'm not one.

    Maybe you would be if you invested that money instead of being generous with it.

    For me, I'd still be well under $10m even with zero charitable contributions.

    Its possible be under $10m net work and to donate/contribution tens of thousands of dollars per year without it being a meaningful hit against growth. Once you hit a certain point, the compounding of what you have does the work. This was my point.

    If you started with $1m in the boring S&P500 10 years ago, that would be worth $4,446,735 today. Projecting forward, if you had $4m today with the same returns over the last year (probably unlikely after trump) you'd have $17,786,940 in 2036. Ten thousand dollars every year donated doesn't reduce that much.

    you

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