Make Money by Giving it away – that is a novel idea:
Charitable bequests are thought of by most people as part of their will or trust.
You will miss some BIG tax breaks if you wait until death.
Charitable giving planning while alive gives some big tax breaks and an INCOME for LIFE.
Charities will pay you money! It’s called a charitable gift annuity.
Make a single contribution. Based on the amount of that contribution and your age – you receive a set income for life.
Yields are set annually by the American Council on Gift Annuities.
As return of principal, part of your annual income will be tax-free.
Additionally, you get a tax deduction for your gift!
Of course it is important that you always understand your investments and confirm they are suitable for you. The best way to get gift annuities “right” is to work with a financial advisor you like, trust and whose best interest is your best interest.