Sep 8, 2020
Giving is one of the best things that we can do at every stage of life, but in retirement, it takes on a whole new meaning. We can give back to our communities, to our families, and to organizations we care about. However, we have to be strategic about our giving, make sure that our money is going where people say it’s going, and reap the potential benefits along the way.
Here to help navigate the world of giving is Gary Pratt, the Senior Director of Development for Catholic Charities of Northeast Kansas. In 2019, Catholic Charities served about half a million people in need through over 20 programs across 21 counties, helping empower them to get jobs, learn new skills, receive food and housing, and even hospice care.
Gary also specializes in helping people confidently gift stock, real estate, retirement accounts, plan gifts, and legacy estate gifts. Today, he joins the podcast to talk about his organization, the tax benefits behind giving, and the personal reasons to give.
In this podcast interview, you’ll learn:
- How organizations like Catholic Charities give far beyond just the Catholic church.
- What you can do to vet a charitable organization and make sure that your money isn’t being spent on administrative overhead and fundraisers.
- How the SECURE act changed charitable deductions - and how to get tax benefits from charitable donations even if you can’t itemize.
- Why donor-advised funds have become significantly more popular over the last several years, their unique benefits, and their major drawbacks.
- How you can use your IRA to give a tax-free gift to a charity of your choosing while using life insurance to provide for your family.
Get Today's Show Notes
To get a full recap of today's conversation, including the biggest takeaways, transcripts, and links to all the resources mentioned, visit GuidedRetirementShow.com/28
Learn More about Retirement Planning
Find out more about retirement planning and Barber Financial Group, by visiting BarberFinancialGroup.com