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Fixed Income for Retirement

Fixed Income for Retirement
After working for decades as a pediatrician, Elana was ready to retire.

Elana: I bought some stock a number of years ago and overall this was a good investment for me. However, I was uncertain about leaving my savings in the market where I knew it could go up or down.

I was also looking for security for my retirement years. Ideally, I wanted to know that I would have the income I needed and that it would not change with the markets.

Elana talked to a friend who had found a good choice. Her friend had set up a gift annuity with the local Jewish Federation. Elana thought that perhaps a gift annuity would be helpful for her.

Elana: I called and asked about a gift annuity. I was very pleased to discover that I would receive a good payout based on my age. Plus, there would be a charitable tax deduction and part of the income would be tax free.

I transferred my stock for a charitable gift annuity. I was delighted with the fixed payment I received. I avoided part of the capital gains tax and my CPA was pleased that my charitable deduction will save taxes this year. With my tax savings and increased income, I plan to spend more on my grandchildren this year!

*Please note: The name and image above are representative of a typical donor and may or may not be an actual donor to The Jewish Federations of North America, a Jewish Federation or a Jewish Community Foundation. Since your gift annuity benefits may be different, you may want to click here to view a color example of your benefits.

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Any tax consequences described on this page are based on U.S. federal tax law. Charitable deductions from state and local taxes or from Canadian and provincial taxes may not be available to the same extent as from U.S. federal taxes. The Jewish Federations of North America (JFNA) does not provide legal advice. Donors are encouraged to seek independent tax and legal counsel. You may read JFNA's charitable solicitation disclosure statement here and important information about endowment gifts and bequests to JFNA here.