Dan Celia

Financial Issues

June 2014 – Q: For a couple of years, we’ve considered a CGA to provide income. Is now a good time to do this?

A: I don’t think any time is better than another to put part of your savings into a charitable gift annuity. I believe it is something, as the Lord lays it on your heart, that you should do.

Of course, you may defer the income and develop a 10-year window during which you can begin receiving the income at any time. AFA Foundation will map this out for you and print out exactly how much income you will receive.

For instance, if you defer income until 2017, the AFA chart will tell you exactly what your income will be, and that income will not change for the rest of your life. For each year you wait, the higher your income will be.

I truly believe that all responsible retirement plans ought to include a CGA, doing the Lord’s work, creating permanent income and providing tax advantages.

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Dan Celia has been in financial management for more than 30 years. He works closely with AFA Foundation and can be heard six days a week on AFR Talk (afr.net).

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