Isn't it wiser to donate $5 mil after you've lived a full life? Giving away your future nest egg is quite a rash decision for a young person. Especially when that money will almost certainly end up mismanaged or end up in the pockets of cronies.
I’m not sure which way is “right”.
This attitude is toxic. It is possible to find charities that fit your own definition of well-managed and it is worth it.
> Giving away your future nest egg is quite a rash decision for a young person.
There's risks involved, of course. But the risks are minuscule compared to the risk unfairly borne by others because they do not have the privilege of sophisticated healthcare systems, food, and clean drinking water.
I'm in my twenties and make more money than 99% of my fellow citizens. If I can not find a way to help children literally at severe risk of death before 5 years of age, who can?
Not so -- if you do your homework. My first donation is always of time rather money: A thorough, skeptical vetting of the organization itself. Start with reading the Form 990 (in USA). If the org makes its Form 990 hard to get, that's red flag #1.