Retirement security is a high priority.While there are tax-advantaged ways to put aside money for retirement, many people would like to do more and generate tax savings at the same time.
If you have significant charitable goals,you may benefit from a plan that lets you increase your retirement security and make generous provisions for Hamilton. For example:
Joanne, 50, is a successful professional who has exhausted all traditional tax-advantaged retirement savings options. She would like to do something significant for the College and augment her retirement income as well.
Planning to retire at age 65, Joanne contributes $100,000 to a special kind of charitable unitrust designed to provide income to her at the time of her retirement and continuing for the remainder of her life. She enjoys income tax savings now and the benefit of tax-free trust asset growth. When payments begin, she will receive 5% of the trust's annual value and, at her death, the funds remaining in the trust will become a part of Hamilton's endowment with the income used according to her wishes in perpetuity.
One of the simplest and most popular ways to enjoy the satisfaction of a gift, benefit from an immediate income tax deduction and receive payments for life is through a charitable gift annuity.
In exchange for your contribution of cash or marketable securities, Hamilton will make annual payments to you for your lifetime (or to you and a successor annuitant you designate). The amount of the charitable deduction and the fixed payments depends on the number and age(s) of the beneficiary(ies).
