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Planning for retirement, taking care of family and supporting the causes you are passionate about don't have to be mutually exclusive. As you think about these life decisions, we want to remind you that Junior Achievement of Southern Nevada offers planned giving options that can enable you to support our work in financial literacy education and meet your financial goals.
The recent economic downturn may have limited your ability to give as much as you would have liked. As you reevaluate your charitable plans, planned gifts are an alternative to help stretch your charitable dollars and open the door to a greater philanthropic impact. Also known as life income gifts, these arrangements allow you to transfer assets to a charity - cash, stocks, bonds, real estate - in exchange for term or lifetime income. Whether you want to take care of a loved one, reduce your estate taxes or realize capital gains tax savings on appreciated assets, planned giving is a tool that combines charitable giving with smart financial planning.
A charitable gift annuity, for example, is a way to create fixed income for life. For appreciated assets - even those that may have lost significant value in recent months - a charitable gift annuity is great way to make a charitable gift and move these assets into an arrangement that provides guaranteed, lifetime income, rather than risking further depreciation.
Your rate is based on your age at the time of the gift and in light of the economic climate, the rates for charitable gift annuities will likely decrease, effective July 1, 2009. The new rates, as recommended by the American Council on Gift Annuities (ACGA), are anticipated to be lower by up to .7% at each age (see below for estimated rates), making now an important time to consider if a charitable gift annuity is right for you.
| Age | Current Rate | New Rate Estimate* | |
|---|---|---|---|
| 65 | 5.7% | ⇒ | 5.0% |
| 70 | 6.1% | ⇒ | 5.4% |
| 75 | 6.7% | ⇒ | 6.0% |
| 80 | 7.6% | ⇒ | 6.9% |
| 85 | 8.9% | ⇒ | 8.2% |
*All rates reflect payment to a single beneficiary. New rates are estimates of rates effective July 1, 2009. Always consult your personal financial advisor to ensure a CGA is the right gift vehicle for you.
The new rates will be announced by July so with just a few weeks left to lock in at a higher return, I urge you to call today to learn more about Junior Achievement's charitable gift annuities and other planned giving options. For more information please contact Alan Diskin, 702-214-0501 or alan.diskin@ja.org.
