I feel very strongly that everyone should give 10% of their after-tax income to charity. There is no greater investment that an individual can make then to invest in the well-being of others. This gift will give you more return than any monetary investment.
I speak of this practice in my soon-to-be-released book, "The Confident Investor." My basic advice is that you should save 10% of your income for your retirement, donate 10% to charity, and live on the remaining 80%. If you follow this strategy, you will find that you are living within your means while providing for your long-term financial health and your moral health.
Many people will accomplish this by giving to their local church or synagogue along with donations to common charities such as United Way or March of Dimes. However, you may want to have more options than these standard choices. To help you with this, I offer these 10 charities for you to consider.
- Injured Marine Semper Fi Fund
- Spondylitis Association of America
- The National Campaign to Prevent Teen and Unplanned Pregnancy
- Environmental Law and Policy Center
- Teach for America
- Special Operations Warrior Foundation
- Homes for Our Troops
- The Navy SEAL Foundation
- Patient Advocate Foundation
- Give Kids the World
I am sure that you have your favorite charity. Please give generously to the cause that motivates you the most. The important thing is to give away to others before you pay your bills.