12 Things To Do In 2013 #7-Barry Allen
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Will your income from social security, your IRA or 401k plan and your investments be sufficient for your retirement years? Will market fluctuations and low interest rates impact your retirement income. One way to bring some stability and perhaps increase your retirement income is a charitable gift annuity. If you are 78 years old, your gift annuity rate is 6.4%. If you funded a gift annuity with $100,000 in cash or appreciated securities, your annual income would be $6,400, and only a portion of it would be subject to income tax. And, that income amount won’t shrink and you can’t outlive it, regardless of what happens to your underlying gift. Also, you would be eligible for a charitable income tax deduction on a portion of the $100,000. The older you are the higher the payment rate up to 9%. Also, you can create a joint life gift annuity for 2 people. Call Laurie Valentine or me toll-free for more information about how a charitable gift annuity of $5,000 or more can provide you a lifetime of dependable income while advancing Christ’s mission through your church and other Christian causes.
For more information, please call us at (502) 489-3533 or toll free in KY at 1(866) 489-3533
The information in this article is provided as general information and is not intended as legal or tax advice. For advice and assistance in specific cases, you should seek the advice of an attorney or other professional adviser.