Peter Singer

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866 appearances 5 recordings 3 series first heard Nov 2020 last heard 20 Apr

Peter Singer’s voice in public audio — every appearance, attributed to the second.

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Australian Finance Podcast · Making effective donations to charity with Peter Singer · 8 Nov 2020 podcast

So I think it puts you in touch with organizations and you learn about them.

And you may not be giving very much, but it'll help to form your choices later on when you have more to give.

Now, in terms of the question, well, is it better to reinvest and give later?

That really depends on your rate of return as compared to the rate of return of what you might call an investment in reducing poverty.

Because, of course, there is a rate of return of that.

If you give money to a family now that helps to lift them out of poverty, then they may be better able to educate their children and their children may then have better jobs and better positions and may help the economy of the country where they're living in.

So, to that extent, it's better to give now rather than later.

On the other hand, your return on your investment means it's better to give later.

So, you know, I'm actually very glad that Warren Buffett didn't give away most of the first million dollars he earned because… That was going to be my follow-up question.

Right, okay.

I anticipated you.

Yeah, because, you know, he invested that and reinvested it and now he's given away, I think, something like $30 billion and he's given it effectively through the Gates Foundation as well.

So, if you…

It probably is quite low.

Plus, don't forget that you, hopefully, you want to be an example for your kids.

And I think it's important that

Kids know, you know, when they're young that their parents are giving some money to people who are much less well off than they are.

And I think that very often forms habits.

You know, if you talk to people who do give and say, why?

Well, many of them did grow up in a home that gave and it just comes much more naturally to them than those who don't.

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