Quote:
Originally Posted by retiredguy123
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.
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Yes, you get a good tax deduction (if you itemize) in the first year.
You also get to support a cause that is important to you.
And you don't have to think again about how to invest this money. So your life is simplified.
Anyone thinking about this strategy should talk to their CPA/tax accountant before proceeding.