If I give you a million dollars and you can only spend that on a selfless cause, how would you spend that money and why?

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If I give you a million dollars and you can only spend that on a selfless cause, how would you spend that money and why?

Post by LaurentG »

Charity begins at home: I have at least 1,000 poor relatives in my
extended family in the Philippines. So I would set up a trust or
foundation type of arrangement, & probably run it myself. I’d give the
most capable kids financial support to get through high school, college
and professional schools to become good, competent doctors, engineers,
lawyers, dentists [or entrepreneurs like me]. The less talented or smart
ones, I would finance to learn a trade like auto-repairs, plumbing,
beautician, cook, etc. At the bottom of the pile I’d help all who wanted
it, to get domestic or labor jobs abroad. Those who needed medical help
like correction of cleft palates or dental work would also get help. I
can’t help the whole world, but I can help quite a few specific
individuals who look promising to me.

To keep the fund going and these family benefits going on forever, I’d
want the beneficiaries to agree in writing to pay back any advances with
interest. Why? So that other members of the clan could also benefit in
future years. The fact is a million bucks is peanuts these days. Without
repayments it would all be gone in a couple of years. Like a tub full of
fresh water dumped in the ocean won’t make the oceans sweet...

As I have already done something like what I propose above, I know that
a large portion of my “scholarship”beneficiaries won’t follow through.
They won’t finish their education, won’t keep their good jobs and
certainly won’t pay anything back. I have from time to time given my
QUORA readers similar “scholarship” benefits. What happened?

My sad experience is that too many will either be lazy, take drugs, get
pregnant, flunk out for lack of attendance/study, or otherwise let slide
what could be a prosperous & satisfying career/ life.

There is a good reason why there is a 1% and a 99%. Actually IMO,
success, health, long life & happiness is gained by more like 15% while
85% just never make it. But you dear reader, get the point. */all too
often people who get free stuff just don’t appreciate or benefit/* from
it. They miss every opportunity to benefit from an opportunity.

My final note is that funds raised by organized big charity go about 50%
to the fund raisers, 45% for advertising & bureaucrats in the
organization, and with luck, maybe 5% to the beneficiaries. That is why
I would run my own.

PeterTaradash.com <http://petertaradash.com/>
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