Quote:
Originally Posted by Redsmom
Hmmm, Well since an investment company will not make a penny from our charitable gift annuity, not sure they would have any interest in talking to us.
I am surprised that these are not more popular in the current market where you can’t earn any reasonable interest rate safely. Besides the considerable tax benefit, what attracts us to this vehicle is guaranteed interest rates of 4.3% for me at age 66, and 6.5% for my 80 year old husband. And this is for life. IF we aren’t missing something - which is why I am here.
|
Are you saying that, if you make a charitable donation of $100,000, they will pay you $4,300 (4.3%) per year for life, which is about 20 years for a 66 year old woman? If so, that is only $86,000 ($4,300 x 20 years). Not a good deal. Or, am I missing something? But, you will get a tax deduction in the first year, which will be a portion of the $100,000 donation.