The average American donates 2.1 percent of their income to charity, according to data from the Giving Institute.
But an ordinary couple living in Nashville, Bob and Linda Lotich, refuse to be average.
When they were both 31, they decided to “give their age” – they pledged to donate 31 percent of their income to worthwhile causes.
They’ve increased their charitable giving every year since, to match their age. The couple is now 41 years old, and they give away 41 percent of their income.
When they began this project, the Lotich’s were earning a combined household income in the high five-figures. They were making just under $100,000 combined, living in St. Louis. They carried a mortgage on their home. They worried that their commitment to giving might impact their ability to pay the bills.
Over the last decade, their income has fluctuated – up some years, down in others. They moved to Nashville and had three children. These higher living costs have drastically impacted the family budget.
But their commitment to giving persists.
In today’s episode, Bob Lotich joins us to talk about why and how he committed to the “give your age” philosophy – and shares his advice for anyone who wants practical tips for increasing their capacity to donate to meaningful causes.