Buffett’s investment sharpness is legendary – everyone know, the world knows. And everyone wants to emulate.
But there’s another side of Mr Buffett that gets less coverage. And that’s philanthropy. The Oracle of Omaha pledges 99 percent of his net worth for donation to charity. He’s the leading man for philanthropy in the States. With 11 other leading philanthropists, they all make the $126 Billion Forbes Cover. A gathering of giants. You might familiar with names like Bon Jovi and Bill Gates.
I think if you want to be a super investor, it is equally important to be a charitable super investor. ChampDog of Journey to become Financially Independent said “When you have reached a stage where you are willing to donate your money, it basically means you are in control of your money, instead of the other way round”
I wasn’t a very charitable person at heart to be honest (my wife is, so I learn from her compassion) but I attempted to donate my own money to charitable organizations. I wanted to see how it feels to give away money more than I am normally comfortable of. Of course I am not talking about millions or even hundreds thousands but just a lump sum amount you would definitely feel painful if you were to lose that exact amount from your pocket. This is a give-back to charitable causes as a result of delivering massive value to members inside REITMethod.com last year – a REIT investment course I co-founded with KC Lau.
I’d say, the feeling’s not too bad. In fact, once it sinks in, it feels good.
In the local context, super investor Koon Yew Yin, a friend of my good friend KC Lau, is someone we could emulate. A man who attempted to donate RM 30 million to UTAR but rejected coldly. A man who gives away RM 1 million every year to poor students so that they can have tertiary education. There’s more in life than just making money – in a BFM interview here, Mr Koon said he has come to a stage where making money is fun and on lookout for ways to make it fulfilling. And that fulfilling way is none other than doing charity. Imagine if you could be in a fundraising dinner, and could say this:
“Every dollar you can make, and I’ll match you dollar for dollar”.
In his mind, Mr Koon feels that is the best investment after receiving a letter of appreciation from the President of the fundraising dinner.
Something like this. Here’s mine.
Are you donating this year to causes you believe in? Even a hundred bucks?