Fixed Income for Retirement
After working for decades as a pediatrician in a small rural town, Patricia was ready to retire.
Patricia: I bought some stock a number of years ago and overall this was a good investment for me. However, I was uncertain about leaving my savings in the market where I knew it could go up or down.
I was also looking for security for my retirement years. Ideally, I wanted to know that I would have the income I needed and that it would not change with the markets.
Patricia talked to a friend who had found a good choice. Her friend had set up a gift annuity with her favorite charity. Patricia thought that perhaps a gift annuity would be helpful for her.
Patricia: I called and asked about a gift annuity. I was very pleased to discover that I would receive a good payout based on my age. Plus, there would be a charitable tax deduction and part of the income would be tax free.
I transferred my stock for a charitable gift annuity. I was delighted with the fixed payment I received. I avoided part of the capital gains tax and my CPA was pleased that my charitable deduction will save taxes this year. With my tax savings and increased income, I plan to spend more on my grandchildren this year!
*Please note: The name and image above is representative of a typical donor and may or may not be an actual donor to our organization. Since your gift annuity benefits may be different, you may want to click here to view a color example of your benefits.
The information on this website is not intended as legal or tax advice. For such advice, please consult an attorney or tax advisor. Figures cited in examples are for illustrative purposes only. References to tax rates include federal taxes only and are subject to change. State law may further impact your individual results. Annuities are subject to regulation by the State of California. Payments under such agreements, however, are not protected or otherwise guaranteed by any government agency or the California Life and Health Insurance Guarantee Association. A charitable gift annuity is not regulated by the Oklahoma Insurance Department and is not protected by a guaranty association affiliated with the Oklahoma Insurance Department. Charitable gift annuities are not regulated by and are not under the jurisdiction of the South Dakota Division of Insurance.