After working for decades as a doctor in a small town, Patricia is ready to retire. She has enough saved for retirement but is concerned about the impact a drop in the stock market would have on her retirement savings.
Patricia: While I was working, I bought stock every year. Overall, this was a sound investment strategy. The stock grew in value considerably. Now that I am retiring, I need a new strategy one that protects my savings so that my situation won't change even with changes in the markets.
Patricia spoke with a friend who recently set up a Charitable Gift Annuity with her favorite charity. Patricia called the Catholic Foundation of Eastern Montana and learned that she would receive a very nice payout based on her age and that she would also receive a charitable income tax deduction, the 40% Montana Endowment Tax Credit
Finally, part of the payment from the annuity she would receive regularly for the rest of her life -- would be tax-free over the course of several years.
Patricia: I transferred my stock to fund a Charitable Gift Annuity and was thrilled with the fixed payment I received! I avoided part of the capital gains tax (if I had sold the stock instead), and my CPA was glad that my charitable deduction will save taxes this year. With my tax savings and increased income, I can afford to travel to see my grandchildren several times this year!
Is a charitable gift annuity right for you?
The payout for Charitable Gift Annuities will vary depending on the age of the donor. Please contact us to inquire about current payout rates or if you have any questions about charitable gift annuities.
*Please note: The name and image above are 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