Maximizing Retirement Income with Charitable Gift Annuities

As retirees, exploring various avenues to enhance your financial stability is crucial. One such avenue is a Charitable Gift Annuity (CGA), a unique financial tool that supports charitable causes and provides you with a steady income stream. Let’s explore how CGAs can be a win-win for your retirement planning and philanthropic goals. Understanding Charitable Gift Annuities A CGA is a contract between you and a nonprofit organization. By donating cash, assets, or securities to a …

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Understanding Non-Deductible IRAs and Their Distinctions from Roth or Traditional IRAs

 Is it logical to finance an individual retirement account (IRA) when it doesn’t offer a tax deduction? Many individuals who aren’t eligible to fully finance a deductible IRA or Roth IRA miss out on this straightforward opportunity to set aside additional retirement funds that can mature without tax implications. Unlike a 401(k) or similar salary reduction plan, you can contribute to a non-deductible IRA until the tax filing deadline. Understanding Non-deductible IRAs  During a tax …

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