When my wife and I sold our two townhouses a couple years ago, we set up the Yasmar Charitable Giving Fund to start giving to causes we care about now, and to continue giving to causes we care about in perpetuity.
I feel extremely grateful for how lucky I’ve been in life and the opportunities I’ve been presented with. It feels like I got to start on third base.
And because I’ve been so lucky, my wife and I have the ability to give and still lead a comfortable life. So we are. I think it’s the right thing to do, and I want to have a real and lasting positive impact on my community. So starting a fund to give to charity each year just made sense.
For the past two years we’ve donated to The Farley Foundation, a charity that helps people who are struggling financially pay for vet care for their sick pets.
We chose the Farley Foundation to start because of our experience with our dog, Shiner.
A few years ago she collapsed one day and we didn’t know why. At the vet we learned that to figure out what was wrong they would need to do some tests and bloodwork that would cost over $3,000. And even then, they weren’t sure if they would be able to do anything to help her.
But there were no other options. It was either pay for the tests, or put her down.
Thankfully, we had put away money for an emergency and could afford to go ahead with the tests. They figured out what was up, put her on medication, and she’s been doing okay ever since. We’ve gotten to enjoy a few more good years with her.
But I know lots of pet owners aren’t so lucky, and simply can’t afford the necessary treatments for their pets. It’s a terrible, heartbreaking spot to be in. And I’ve always wanted to do more to help.
So when we had the ability to start a fund, we did. And we intend to keep growing the fund over time and continuing to contribute in bigger and bigger ways to various causes.
Starting a charitable fund isn’t for everyone, and it does require a large initial investment to get up and running (typically at least $10,000). But if you have the means, it’s an incredible way to do more, have a lasting impact, and with any luck, to continue giving forever.
If you have any interest in setting something like this up for yourself, shoot me a message and I’d be happy to chat about the details and how it might fit into your long-term financial plan.