Did you just recently come to this conclusion, or have you held this opinion for a long time? I ask because if you've thought this way for a while, why did you start the thread? Do you really believe that you should give all your money away? Do you really believe that you shouldn't be saving?
I bought some AA rated corporate bonds close to the end of Bernanke's term at the Fed when interest rates were higher. They yielded about 5 to 5.5% per year at purchase price. I have not sold them. The bonds are not callable. They are long term bonds. The stock market was roaring at the time and there was a short term spike in bond yields. I do not put all my eggs in one basket, but had to diversify my portfolio between stocks, bonds and cash. Currently bond yields are so low, I have some money in a low fee short term bond fund that yields close to one percent. I also bought a two year CD when interest rates were higher. I might switch to long term bonds if interest rates will rise again. After calculating income each year, I donated some of my earnings to non-profits helping the poor or top rated university departments doing medical research and training doctors. I diversified my charitable giving between seven organizations.
that's my point none of them do. Warren Buffet supports raising the estate tax yet has promised his entire fortune to the Gates Foundation. Meaning he will be exempt from the estate tax. Bill Gates donates computers with Windows OS In Africa, it's self serving. He also supports vaccines that sterilize women etc. All the while their legacy as a philanthropist will remain forever. Perhaps the tax advantages and self serving foundations are better than nothing at all.
Jesus taught people should lend expecting nothing in return. Giving part of your wealth to charity and expecting nothing in return is generous. You may need to check to see how much of your money gets through to needy people and how much the charity pays for its own salaries and other expenses.
