After a long career as a teacher in Marin County, Patricia is ready to retire. Patricia has enough saved for retirement, but she 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 good 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 By the Bay Health. Patricia called By the Bay Health and learned a gift annuity would provide her with fixed payments for her lifetime at an annuity rate based on her age. Patricia would also receive a charitable income tax deduction for her gift and part of her annuity payment would be tax free.
Patricia: I transferred my stock to fund a charitable gift annuity. I was delighted with the fixed payment I received. I avoided part of the capital gains tax, and my CPA was pleased 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 an example of your benefits