The New IRA Gift Annuity--Make a Charitable Contribution & Get a Lifetime Fixed Annuity All In One

[@Nissan-hz8zh]

rob. just wanted to say i recently came accros ur channel and im diggin it. No nonsense, plain, solid, investing advice

[@Tom-PlaylistKing-Smith]

Great video. The advice given at the end of the video was worth considering.

[@everetteborr]

Great presentation, I am surprised you are the only one talking about this. It is a nice way to reduce RMD’s and still have some benefit.

[@Omar-et7sb]

Who is underwriting the annuities? If that charity disappears, who is responsible to keep paying the annuity? I almost give the government credit for creativity here... but it's also sort of complex...

[@Plymouthroper]

Unlike a charitable trust for the benefit of a a particular charity (where the claim is only on the assets you put in the trust), the gift annuity is a claim against the general assets of the charity, which is a more secure deal. Although, you will be in line with many other claimants. The key is to support a charity you love and don’t care if you receive your income, or support a charity with a superior credit rating. They are not mutually exclusive, but more and more small colleges are ceasing operations each year, unlike the university which logo is on the footballs behind the speaker.

[@andre1987eph]

Got a message from Williams College about this. Except I'm 58😅 and nowhere near ready. PS thanks for reminding me to unplug my charging Apple track pad 😊

[@daveschmarder-1950]

It seem to me the only needy charity is the US government. They are in bad shape. I've taken my full RMD each year and then also do a smaller QCD. Starting next year I'll do the QCD first and fill the rest of my RMD with a distribution. It is possible thereafter that I would do a small Roth conversion, or a regular distribution.

[@Omar-et7sb]

Source for this alleged "bad shape"? (that's not a link to an ol' yeller fox news article)

[@Plymouthroper]

Omar, the The $32 trillion gross federal debt might be an influence on his judgement of whether the government is in bad shape. Top debt of all nations, but only third worse off of debt per capita and 14th worse of percent of GDP. There are 195 countries in the world. None of the numbers came from Fox, to pre-empt your question.

[@richarddpetersen169]

Question: Im married filing jointly. Wife does NOT have an IRA, I do. Rules seem to say married couples can go $50,000 each, but since my wife has no IRA how does that figure in? I see others have asked questions, and there have been few/no answers from you.

[@adamboester756]

Can you do this from a inherited IRA at the age of 54?

[@Plymouthroper]

Yes on the inherited, no on the age of 54. You have to be facing the required minimum distributions, so in the 70s as the speaker pointed out.

[@rkander46]

I'm 78 years old. If my RMD is $35k and I want to make the maximum $53k charitable gift annuity donation from my IRA how is the difference of the $53k max. donation and the $35k RMD shown on my tax return? Do I have to pay federal tax on $18k difference?

[@auricgoldfinger8478]

Is this $50000 in addition to the $100000 QCD? Is it only once, or just once per charity?

[@jeanjasinczuk7543]

Is it IRA only or does it apply also to 401k?

[@Plymouthroper]

The law was specifically drafted in regards to IRAs, and specifically not Roth IRAs. Does not apply to 401(k)s, or any of the other numbered retirement plans.

[@MediaMaverick_]

You also get a tax deduction of some sort do you not?

[@Mike-123]

I wonder if this will spawn a bunch of faux charities. Hope not!

[@Plymouthroper]

Only if they are charities which don’t do the paperwork with the government, which is quite substantial. A national charity like Ohio State would have donors in all fifty states and thus need to do paperwork times fifty if they are generally advertising these plans. But there are any number of “charities’ which pop up to take advantage of people. Given there is an element of gift in these plans, donors don’t look for the best return but rather the charities they know and care about.