Supporting St. Thomas Aquinas Church and Creating Income in Retirement

When the golden age of retirement begins, planning is refocused from wealth accumulation to supplementing your income during retirement – wealth distribution. For many, social security eligibility is the first indicator that this shift is taking place. For others, milestones such as reaching a long-anticipated financial goal or experiencing a significant life event mark the shift from accumulation to income planning.

Fortunately, there are philanthropic strategies using life income gifts that can assist retirees by providing income during retirement. Life income gifts offer flexible planning opportunities that provide income payments while meeting specific planning goals. For example:

Payments that Begin Now or Later

One of the important elements of planning a life income gift is the ability to choose when the income begins and how payments are made. We can provide illustrations showing payment and tax deduction figures based on your gift amount and personal planning objectives.

Income to One or More Beneficiaries

You can design a personalized plan that addresses your needs and goals. There are variations among the different types of plans, but it is possible to design a plan that provides payments only to you, only to another, or to you and other beneficiaries.

Current Income Tax Deductions

Life income gifts qualify for an income tax charitable deduction based on the present value of the gift you make. There may be other tax benefits to consider as well, including favorable taxation of the payments you receive.

As you consider your options, don’t hesitate to contact Susan Williams at, or Ellen Brunner, Director of the Catholic Community Foundation at 800-382-9836, Ext. 1427. Together, we can explore how you can make the most of your retirement planning opportunities.