Ideas that are compelling, yet unhealthy.In Dog we Trust
There was a story in the paper about a woman who left 200 million dollars to her dog. What a waste.
Or is it?
presumably, the money is at least in a savings account somewhere. This means that it is gaining interest by being loaned out to other people. Those people are putting it to good use, enough to justify paying interest back to the Dog.
Given the size of the fortune, it's possible that it's in a professionally managed trust, which yields an even higher return. This means that the money is going to places that a trained analyst thinks will use the money best. If the Dog has a good tax attorney, there may even be an element of charitable giving.
Would her human trust-fund grandchildren have used the money so responsibly?
Perhaps the best use of any given dollar is to put it into an account that invests with an eye towards both finacial gain and the social good, a kind of venture philanthropy for the small time investor. What if you could send a dollar to a charity knowing that it would not merely be spent, but responsibly loaned out, to maximum benefit? What if you could go to your favorite charity for a loan, thereby both getting your funding, and knowing that your interest payments would be positively re-used?
If you want to let the market sort out the good, and just send money to an account that invests for financial gain, I volunteer mine.
Or is it?
presumably, the money is at least in a savings account somewhere. This means that it is gaining interest by being loaned out to other people. Those people are putting it to good use, enough to justify paying interest back to the Dog.
Given the size of the fortune, it's possible that it's in a professionally managed trust, which yields an even higher return. This means that the money is going to places that a trained analyst thinks will use the money best. If the Dog has a good tax attorney, there may even be an element of charitable giving.
Would her human trust-fund grandchildren have used the money so responsibly?
Perhaps the best use of any given dollar is to put it into an account that invests with an eye towards both finacial gain and the social good, a kind of venture philanthropy for the small time investor. What if you could send a dollar to a charity knowing that it would not merely be spent, but responsibly loaned out, to maximum benefit? What if you could go to your favorite charity for a loan, thereby both getting your funding, and knowing that your interest payments would be positively re-used?
If you want to let the market sort out the good, and just send money to an account that invests for financial gain, I volunteer mine.
posted by indrax at 11:21 PM
1 Comments:
Your blog is full of crazy, yet appealing ideas.
I think you put too much stock in finding a "responsible officer" who can take care of $20M in the best possible way. Also, any interest rate (est. by a loaning insitution) higher than that adjusted for inflation/purchasing power would contribute to profit ... which is also driven by greed.
I would agree with you 100% if you take the two mil and stick it into a place that charges the smallest possible rate that allows adjusting for inflation.
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