Typically, in the United States, people who have accumulated some wealth will share it with family members upon their death using a will. We’ve all heard of someone getting a nice inheritance from grandma. In fact, the government estimates that 82% of wealth transfer in our country occurs this way.

However, since I don’t have any kids or younger family members, I’m clearly not going to be contributing to that 82%. Plus, the idea of waiting (hopefully) 40 years until I die to share a portion of my accumulated wealth with those I care about doesn’t sound all that appealing to me. Wouldn’t it be much better to see and live the benefits of these transfers now?

If you're reading this, you’re the type of person who would ordinarily find your way into a traditional will for me. Realistically, what will you need that money for in 40 years? Is elderly you going to be pressed for cash? Probably not.

After over a year of working through ideas with Palash, my trusty financial advisor, we’ve put together the following plan—or perhaps “pledge” is a better word. I hope you might participate in this with me in various ways. Maybe helping me find some good causes, and perhaps even being an occasional recipient yourself.

After all, wouldn’t it be more enriching to start spreading the financial love now, to participate, and live the fruits of those actions? Or we could just wait until I’m gone.

Instead of following the usual path, I’ve decided to try something a little different: I’m creating what I’m calling a Living Pledge.My idea for the Living Pledge is more about a change of habits and lifestyle—a commitment to generosity—than it is about a one-time distribution of assets like a traditional will. It turns out that when you’ve spent so long striving to accumulate wealth, it can be a challenge to let it go. Sharing this pledge with you is a way to help me stay committed and accountable.

Beginning in 2025, I’m pledging to spend and give away 2.5% of my net worth each calendar year. Palash and I will measure the amount each January 1st, and then I (we) have 12 months to make it happen.I’m loosely pledging to divide these efforts roughly 2/3 toward traditional charities or worthy causes and 1/3 toward helping enrich the lives of the people I enjoy most in this world. If all goes well, there’s no reason this plan can’t continue for decades. It’s Palash’s job to figure out how to make all this work—it's my job to find good uses for this pledge.

One of the guiding principles I’m using in my decision-making for charity giving is to find organizations that need money now to do good work now. Too much money is socked away in endowments or ultra long-term plans, while real issues go unaddressed today. For example, USC’s $8 billion endowment isn’t going to grow any larger on my account. But maybe I can find some hard-working students who could use a little less debt burden when they graduate.This is all new to me, and I haven’t found too many examples of this being put into action today. Even the famous Gates Giving Pledge calls for half of assets to be given away upon death, and those who’ve signed it are actually divesting less than 1% per year.