Many people who have already contributed the maximum to their employer-sponsored retirement plan or IRA seek additional ways to generate retirement income. For those with charitable goals, deferred gift annuities can provide a solution—they allow individuals to make a gift while securing fixed annual payments to themselves and/or another beneficiary for life, beginning at a specified future date. In this way, deferred gift annuities can be a charitable solution to increasing your retirement income.
Deferred gift annuity benefits can include:
- Tax deductions.
- Supporting a cause you care about.
- Potentially higher annuity rates.
- Securing fixed income payments for life.