Time to care - OXFAM report
TLDR: OXFAM report on wealth inequality
Money means different things to different people. What is significant for one person is pocket change for another. It is not just a factor of wealth, it is also a matter of your upbringing and values.
I might not think a lot about spending 100$ on a nice meal. There would be others who might consider that an extravagance and there would be others who might leave that as a tip and not blink.
The same 100$ means different things to different people.
OXFAM report
The OXFAM report does some interesting reporting from time to time with a very headline friendly summary so that it gets picked up by news organisations across the globe. So what does this years report have it store. If you want to download the whole report and read it at leisure, links here.
A few snapshots below.
I generally do not provide political commentary on the blog. But in this particular case I see the money as excessive and could help significantly improve the lives of millions if they could open their purse strings and give away to the less fortunate.
What about us?
Can I shift the blame entirely on the richest 1%? What about the rest of us who are relatively well off and can contribute towards to the betterment of the society. In my pursuit of FIRE, I had optimised spending significantly over the last several years and a casualty of this optimisation was charity.
I have re-started giving back to a few select charities this year, it is only 1% of my pre-tax income for now. I need to improve a lot there but I feel that it is step in the right direction.
Conclusion
The report highlights the challenges in the current society where the rich or rather the mega rich really have everything, sometimes at the expense of the poor and the planet.
Do your part not necessarily with money but if possible by volunteering your time or skills.
Good luck and happy investing.
