"Charities or other personal investments really are a better option than the bling. "

How do you put charities on the same level as personal investments?

If you make an investment you have something that theoretically might increase in value (as your example "spending money on property"). If you give it to charity you feel good but that's not something that's not something you can retire on or insure the financial well being of your family (or pay for your children's college).