Donor Advised Fund
episode
DIY Money | Personal Finance, Budgeting, Debt, Savings, Investing
19 min
2 speakers
4 chapters
transcribed 1 month ago
Transcript
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Transcript generated automatically by AI and may contain errors.
What is the main topic discussed in this episode?
Hey, this is Daniel. Thanks for listening to DIY Money. If you haven't already, be sure to give us a five-star review on iTunes so your friends know that they can learn from the show. Now, enjoy the show.
Welcome back. Ladies and gentlemen, you're listening to another edition of DIY Money. DIY Money. All right, 30-second recap of Punxsutawney Phil.
Oh, Quint, it was amazing. It was a huge event. I did not process beforehand. There were probably 40,000 to 50,000 people at this event. And we got there at probably 4.30 in the morning. So we got decent. We could see... him without having to use like binoculars or something but when you turn around and look you can't see the end of the crowd like it was one of the biggest crowds i've ever been in in that tight of a space and everyone there sold out for phil like people were chanting and screaming it's like 3 30 in the morning people were like phil phil it was awesome chucker Phil saw his shadow. Yeah, and then everyone booed, including me. I was so mad. Six more weeks. And I had to quickly get over it because I had lunch with Phil after that.
So I had to look him in his cute little eyes and not be bitter.
So you did have lunch with Phil.
We had lunch with Phil.
And what did that look like?
It was lunch, and Phil was there.
Yeah.
It wasn't.
No.
But we did get a picture without having to wait in line for hours after the actual thing.
How come I haven't seen said photo?
I'll show it to you after this. I cannot wait. He was so cute in real life, too. Do you think it's the same Phil, or do you think it's a different Phil as last year? He's lived since 1886, 87. Huh. I think they started this in the late 80s. Yeah, it's not the same Phil from 80s. It's the same Phil, 100%. I know a stunt hog when I see one. Groundhogs do not last 100 years. The magic elixir, Quint. He takes the magic elixir. Oh, boy. And he lives forever. I refuse. Believe in Phil.
Okay, no problem.
Believe in Phil.
All right, well, that's great. Awesome recap. I'm glad you got the chance to do that. I'm glad you're back safe and sound. Big crowds make me nervous like that. Did you think of exit strategies in case somebody started pushing and there was an issue?
To be honest, I don't know if there was an exit strategy. We're all just hoping for the best.
Well, it worked out, so go Phil.
Go Phil.
All right, let's jump right into our question today because we've got a good one that we can dissect and talk about quite a bit here from James. James, what do you got? D-I-Y!
Hey, DIY Money. This is James. This isn't my first question and hopefully won't be my last. Quint, I'm sending this before we hear about your marathon results. Wishing you the best of luck. I PR'd this year at the Lubliana Marathon, got a 319. Okay, on to my question. We really buckled down this year and some encouragement from your guys' podcast started a giving fund and now give away 10% of our income. I wish we had been there all along, but I'm so happy to be able to contribute in this way now. For now, we have 10% going into a high-yield savings account. However, the goal is to eventually have a donor-advised fund. Can you walk me through some of the more tactical aspects of the donor advised fund?
I understand the benefits at a general level, but cannot tell if it is beneficial to contribute to it every month or only on months when your stock is depreciated significantly or once a year, for instance. Do you factor in timing at all or is it mostly just automatic? Thank you guys for your time as always.
Okay, James, by now you know the results did not go as planned. I love that you PR'd at 319. I have tentatively set a race for mid-April with the goal of just... sort of doing an 85% to 90% effort, not the marathon pace goal that I had set. Something we had done on a long run a few weeks before and averaged a nice time. So that would be kind of what I would be shooting for is around that PR time. So bravo to you.
Bravo!
Man, if you're on Strava, hit me up. Let's be Strava buddies, I guess.
What does that entail?
I don't know. You just follow people, and they follow you, and you just see what their workouts are and stuff.
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Chapters
4 chapters
1
What is the main topic discussed in this episode?
0:00–8:29
2
How do Quint and Allie introduce donor advised funds and today's listener question?
8:29–9:08
3
What personal giving habit does James describe and why is he considering a donor advised fund?
9:08–17:24
4
How does Quint set up and access a donor advised fund at Schwab?
17:24–19:26