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9 Charities Worth Donating To

9 Charities Worth Donating To

Giving money to charity is a great thing to do, but to make sure your money is being used wisely, it’s important to investigate the charity to which you’re considering donating. The last thing you want to do is give your money to a sketchy “charity” that uses the majority of the donations it receives to pay its staff. You need to be sure that your money is actually going to help the people you want it to help.

To help you do this, we’ve compiled a list of fifteen charities worth donating to for you to consider when deciding who to give your hard-earned money to.

1. Pencils of Promise

Pencils of Promise is a for-purpose (as opposed to a non-profit) organization that builds schools, trains teachers, and funds scholarships. It started when founder Adam Braun asked a boy on the streets in India what he wanted most. His answer was “a pencil.” Adam went on to give out thousands of pens and pencils to children in over fifty countries over the next five years, before starting Pencils of Promise.

Pencil of Promise is different from most charities in that it mixes a humanitarian purpose with a smart business approach to ensure there’s a great ROI on every dollar spent. It funds its operations through financial support from private donors, events, and companies. This means that 100% of the money donated to Pencils of Promise goes directly towards helping the children in the countries the charity works in. The charity also stays behind once the schools it builds are finished, to ensure that everything keeps running smoothly. The charity works with local communities to come up with curriculum and programs.

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2. 777

777 is an endurance, adventure, and philanthropic initiative put on in partnership with Pencils of Promise by Joel Runyon and his company, Impossible Ventures. Joel is going to run 7 ultra marathons on 7 continents in order to raise the money and awareness to build 7 schools with Pencils of Promise, to provide opportunities to those for whom a basic education seems impossible.

Joel runs IMPOSSIBLE, where he pushes himself and encourages other people to push their limits and do something impossible. In 2013, Joel raised the money to build one school in Guatemala with Pencils of Promise. Seeing the impact his work did, Joel decided to step it up and push himself to do what, for him, seems impossible, in order to make education possible for children in countries like Guatemala. Joel is funding the mission himself, through travel hacking and other initiatives, and all the money donated goes directly to building the schools.

3. Cancer Research UK

Cancer Research UK funds scientists, doctors, and nurses who are researching and attempting to find cures for cancer. It also provides information on cancer to members of the public and its policy-development team advises Government and develops policy on issues relating to cancer.

Cancer Research UK is officially the UK’s most trusted charity, according to research conducted for the Charity Commission. A number of bodies work together to ensure that the charity makes the best use of the donations it receives and that the research it carries out is world-class. The charity receives no Government funding, and so relies on donations to help its scientists move closer to finding a cure. Money goes towards such thing as funding research centers and buying research equipment.

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See some of the ways your support helps. We receive no Government funding so our life-saving work is only possible thanks to people like you.

4. Charity: Water

Scott Harrison, the founder of Charity: Water was a hedonistic nightclub promoter when he went to South America and realized he was “the most selfish, sycophantic and miserable human being.” He began volunteering as a photographer for a Christian aid group that performed surgeries in poor countries and saw how much impact people like him could have on the lives of the people he met. Two years later, he decided to start a charity to provide clean water to people in poor countries. But with no money, Harrison had to rely on his talent for promotion to begin raising money.

Several years later, Charity: Water ensures that every cent donated goes straight into projects in the field. It also shows its donors exactly what their money has achieved and uses social media to raise awareness. The charity is applauded for its accountability and transparency. To date, it has funded over 13,000 water projects.

5. Médicins Sans Frontières

Médicins Sans Frontières is an international medical humanitarian organization that provides emergency aid to people who are in need because of natural disasters, armed conflict, and exclusion from healthcare for whatever reason. It helps people according to their needs, ignoring variables such as race, religion, gender, and political beliefs. The organization aims to be impartial and neutral and to instead focus on providing the help that is needed.

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90% of the organization’s funding comes from private sources rather than governments, which means the charity can remain neutral and independent. Over 80% of the charity’s funding goes towards resources for humanitarian support. Only 20% of donations are put into management, administration, and fundraising activities. The charity’s audited financial reports are publicly available.

6. All Hands Volunteers

All Hands Volunteers is a US-based non-profit organization that gives hands-on help to communities around the world, aiming for maximum impact and minimum beaurocracy. It aims to provide immediate and sustainable support to those who need it and to be the most effective charity out there. It has helped survivors following disasters in places such as Haiti and Japan.

The charity raises money through special events, adverts, grant proposals, direct mail, internet appeals, and other approaches. Over 80% of the money raised by the charity goes directly into providing relief and assistance to communities, and the charity has an extremely high transparency score.

7. Oxfam

Oxfam is an international confederation of 17 organizations that work together and with local communities in over 90 countries. The organization is committed to mobilizing the power of people against poverty, by finding practical and innovative ways to help people and communities lift themselves out of poverty. It responds to crises, campaigns to raise awareness of poverty, and helps people to thrive.

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Approximately 80% of the charity’s donations go directly towards helping people in poverty. The charity also has an extremely high transparency rating and is well-known across the world.

8. Rainforest Alliance

The Rainforest Alliance is a conservation organization that aims to protect the rainforest by making it financially appealing for businesses and communities to protect the rainforest. They help businesses improve their standards, so that their practices are sustainable and rainforest-friendly. Once businesses meet their standards, they can become certified, which makes them more appealing to customers. Rainforest Alliance has certified companies such as Scholastic, McDonald’s, and Kraft.

Over 90% of this charity’s donations go directly towards helping the rainforest. The majority of the remaining money goes into fundraising efforts rather than administration or management.

9. World Wildlife Fund

The World Wildlife Fund aims to protect endangered species and their habitats. They aim to have the biggest impact they can, by encouraging people to make choices that are sustainable and animal-friendly, for example by buying sustainable seafood.

The charity’s financial information is readily available on its website. It receives just over 50% of its funding from donations, and 20% from governments. Over 80% of the organization’s income goes towards program expenses. Of the money that isn’t, just over 10% goes towards fundraising.

Featured photo credit: IMPOSSIBLE & Pencils of Promise via 777.impossiblehq.com

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Published on June 12, 2018

How Much Money Do I Need to Retire? Find Your Answer Here

How Much Money Do I Need to Retire? Find Your Answer Here

It is never too early nor is it ever too late to start planning for retirement. It ultimately depends on your way of life, where are you living, and whether you need to let go of anything. A successful retirement strategy is to have enough pay to cover your expenses with a little cash going into a savings account for sudden financial needs.

With regards to retirement, we all have an alternate vision in mind. In fact, some think about traveling throughout the world, while some think of a peaceful life with their grandchildren. Whether we get ready for it or not, we will one day turn to retirement age and so, we should be prepared for it. I’m going to tell you how in this article.

Benefits of early ventures for retirement

The way this works is you figure out where you need to live, the amount it will cost you to live there (rent/food/transportation), and the various expenses you will need to account for, like travel/insurance/medical bills and taxes. Many people are struggling to put aside money for their future savings and some haven’t started yet. Think you can put off thinking about retirement? The reality is that you need to start thinking about it right now, and putting aside some money from today.

There are a lot of benefits of taking early steps towards retirement. Utilize the power of compounding, low investment for targeted corpus and you can create more corpus investing the same money:

  • If someone saves $100 every month and starts investing for 30 years at 10% return, initially you will see that within 5-10 years, your investments will not multiply. However, after that period, the corpus will increase immensely with the impact of compounding. The investment period expands the extent of profits increments in the corpus.
  • Suppose there are two people, one aged 30, and the other 40. Both need to resign at 60 with the same retirement objectives of $300,000 USD each. Both will put resources into an investment with 10% of the return. Thus, to accomplish their retirement objective, the younger one needs to save $100 USD / month and the older one needs to collect $300 USD / month. Since the older one has started investing ten years later than the younger one, he will pay more than double what the younger one will pay.
  • If someone saves $100 USD every month and starts investing at 30 years old till 60 and gets 10% annual return, his corpus becomes around $170,000. Otherwise, if he starts the same amount spending at 40 years of age with the same 10% return, he will have around $57,000 USD. He can profit by just investing ten years early.

You can’t invest too much money in retirement during the early stage of your career since you may have different objectives. However, you can increase the investment gradually if you start investing just a small amount.

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Average retirement age

For many people who are nearing retirement age or recently resigned, one of their most significant financial regrets is that they did not focus on saving for their golden years. As per the Consumer Reports study, it demonstrates that only 28% of investors with the age of 55 years or older are pleased with the way they have saved for retirement.

As per the report, The Economic Policy Institute breaks down how much Americans have put away.[1] Since you know that when the majority of people retire, you can subtract your age from that more significant number and check down what number of more years you need to work.

But many retirees go back to work. Some of them do part time job while others do seek for a second career. Some even come back to full-time work and then retire again in a couple of years. So deciding their retirement age could be tricky.

Average retirement savings

To get retirement started, saving is pretty easy, though it can seem complicated. These simple five steps will make you go on retirement now. So, you don’t need to stress over having the same regrets as today’s retirees.

1. Invest 15% for your retirement

Your initial step is to save 15% of your income. This will depend on your gross income and does not include any coordinating assets you get through your employer’s retirement plan.

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It’s sufficient to enable you to achieve your retirement investment funds objectives, but not too much to keep you from enjoying your income today.

2. Utilize tax-advantaged retirement plan

Yes, we utilized the T-word; however, don’t daydream! Split your 15% retirement contributing budget between charge conceded retirement plans like your 401(k) or after-tax plans like a Roth IRA.

3. Invest your money around

To put it all in one place is the most significant risk that you can take with your retirement money. With mutual funds, however, you can invest in the biggest and most recognizable brands as well as that new organizations you’ve never known about but has a lot of growth potential.

Opt a growth-stock mutual fund with background marked by solid returns for both your 401(k) and Roth IRA speculations.

4. Stay with it

Since mutual fund investing is less risky than investing in single stocks, it is not risk-free. You can see your savings grow in the long term as long as you can leave your money where it is and keep adding to it.

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5. Work with an investing professional

It is essential to look for an investment professional, as you must have a lot of queries concerning your retirement plan during 30 or more years of investing,

Never make due with an investment professional who recommends or patronizes you to turn over all your investment choices to them. Since this is your retirement, nobody will think or care about it more than you do!

You might analyze or compare your savings against the average retirement savings for your age group to check whether you’re falling behind or getting towards of the curve. On the other hand, it might be conceivable to hang up the work boots and hit the shoreline with fewer savings if you live easily or below your means.

How to achieve your financial goals?

An ideal approach to achieve your financial goals is to stay focused on what you need for your future, ignore everything (and everyone) else that may divert you. There’s a significant business culture out there that requires you to stay in debt, live for the occasion and stress over your future later on.

You need to start planning for your future from now, not when you have more time or money to invest. You can even talk to a financial advisor for any help. Cooperate to set your money goals and make an action plan to reach them. You can retire younger than you thought you could if you create a project and follow up on it.

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Start planning for your retirement

A lot has changed in the last 30 years; our previous generation had an career goal and they would join either a large private company or a government organization immediately after school or college. Then they would spend the next 38 years in the same organization and the form of provident fund and gratuity. They would retire with a decent corpus and they would later spend the remaining time with their pension benefits. It’s a bit different now, but with the above information, you’ll be well prepared.

Whether you can afford to retire now or not, you need not bother with a retirement calculator to get a rough estimate. You should have the capacity to closely approximate your daily spending habits to figure out how much money goes out the door every year.

Featured photo credit: Pexels via pexels.com

Reference

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