Episode Summary:
In this week’s episode, we talk with Joel O’Leary about outrageous generosity, charitable giving, giving back, and gratitude. Joel is one of the most generous people we know, and from an early age, his parents taught him about the importance and value of giving back. Joel shares some ideas for being outrageously generous and giving back without spending large amounts of money. We also talk about the importance of an abundance mindset, paying it forward, prosocial activity, inter-dependence, and being outrageously generous and uncommonly patient.
Episode Notes:
We discuss a wide range of topics with Joel:
- Value in automating your behavior of giving back
- Hands-on approaches to giving and being generous
- An abundance mindset
- Adding some personality into your giving
- The ripple effect of how you feel once you give
- Paying it forward
- Prosocial activity
- Inter-dependence in communities
- Outrageous generosity
- Uncommonly patient
- Being more intentional with your giving
Joel also shares some creative ideas for being generous:
- Visit a grave of a deceased family member for someone who can’t make it there
- Operation Elf
- Gift your airline miles or hotel points to charity
- Donate your time and expertise pro bono – doing favors for people with your skillset
- Sign-up for Amazon Smile, and a percentage of your purchases can go to a cause of your choice
- Giving up something you don’t need and reallocating that to a cause that does need things
Top 3 Takeaways:
- Being outrageously general and giving back matters.
- Like all things personal finance-related, it’s personal. Give what you can when you can, whether your time, money or more prosocial behavior!
- Challenge yourselves and others to take a step back and be thankful for what you have and what you can personally give to this world.
Show References
- Friends on FIRE episode #061 – Habits, happiness, and hard work with 5am Joel
- Book: The most good you can do by Peter Singer
- 5am Joel Post – My friend is outrageously generous
- Budgets are Sexy article: How to include charitable giving in your budget and other ways to give
- Budgets are Sexy article: Volunteering sucks, but it’s also kind of awesome
- Find a Grave
- Operation Elf
- Charity Water