Abu Uthman al-Nahdi (may Allah have mercy on him) said that Sayyiduna Umar bin al-Khattab (may Allah be pleased with him) stated: Charity and the sa'ibah are for one day (i.e. for the Day of Resurrection).
Hadith Referenceالسنن الكبرى للبيهقي / كتاب الولاء / 21483
Abu Ubayd (may Allah have mercy on him) said: By «li-yawmihima» (for their day) is meant the Day of Resurrection, the day for which he freed the sa'ibah and gave the charity; that is, he should not return to benefit from either of them again in this world. It is like a man who frees his slave as a sa'ibah, then the freed man dies and leaves wealth with no heir except the one who freed him. He says: He should not take anything from his inheritance, nor take anything from the sa'ibah's inheritance, except to spend it on people like him. The same is narrated from Ibn Umar (may Allah be pleased with them both), and this practice of theirs was by way of virtue and reward, not because it is forbidden.
Hadith Referenceالسنن الكبرى للبيهقي / كتاب الولاء / 21484
Bakr bin Abdullah al-Muzani (may Allah have mercy on him) said that the wealth of a freed slave of Sayyiduna Abdullah bin Umar (may Allah be pleased with them both) was brought to him. He said: We freed him as a sa'ibah. Then he ordered that slaves be bought with it and set free.
Hadith Referenceالسنن الكبرى للبيهقي / كتاب الولاء / 21485
Ziyad bin Nu'aym relates that he was sitting with Ibn Umar (may Allah be pleased with them both) when a man came with a bag of silver and said: Your father's freed slave has died. He told me to give this to you. He said: Woe to him! Why did he not spend it in the cause of Allah? Meanwhile a messenger of Asim bin Umar (may Allah be pleased with them both) came, saying: Give me the inheritance of my father's freed slave. He gave him the entire inheritance; Ibn Umar (may Allah be pleased with them both) himself did not take the inheritance of a sa'ibah, and Umar (may Allah be pleased with him) had freed him as a sa'ibah.
Al-Shaykh said: If this is authentic, it was not forbidden; had he considered it forbidden, he would certainly have stopped his brother Asim, just as he himself refrained. But keeping away from it is recommended.
Hadith Referenceالسنن الكبرى للبيهقي / كتاب الولاء / 21486
Abu Amr al-Shaybani (may Allah have mercy on him) relates that Sayyiduna Abdullah bin Mas'ud (may Allah be pleased with him) said: The sa'ibah may spend his wealth wherever he wishes.
Shu'bah said: No one heard this from Salamah except me.
Al-Shaykh (may Allah have mercy on him) said: What is meant is that he may place it wherever he wishes during his lifetime, because his master would keep away from taking his wealth after his death.
Hadith Referenceالسنن الكبرى للبيهقي / كتاب الولاء / 21487