All the Hacks with Chris Hutchins

The Power (and Tax Savings) of Charitable Giving with Adam Nash

7 snips
Mar 30, 2022
Guest
Adam Nash
Adam Nash, CEO and co-founder of Daffy, discusses philanthropy’s biggest myths and how many contribute to charitable causes. He reveals the joys and tax benefits of giving, emphasizing donor-advised funds for better contributions. Nash shares insights on donating appreciated assets like stocks and crypto for maximum tax savings. He also highlights how technology can modernize charitable giving, making it more accessible. Plus, he touches on personal finance strategies and the importance of patience in wealth-building.
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INSIGHT

Philanthropy Misconception

  • Many believe philanthropy is only for billionaires, but research shows almost everyone gives.
  • Less wealthy individuals donate a higher percentage of their income than wealthier ones.
ADVICE

Giving Goal and Automation

  • Set a giving goal, just like you set goals for retirement or college savings. Automate your giving to achieve it.
ADVICE

Start Small, Track, and Adjust

  • Start giving, even small amounts, to a cause you care about. Increase or decrease your giving based on how it feels over time.
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