Fixed Income for Retirement

After working for decades as a pediatrician in Christiansburg, Patricia is ready to retire. She has enough saved for retirement, but she is concerned about the impact a drop in the stock market would have on her retirement savings.

Patricia: While I was working, I bought stock every year. Overall, this was a good investment strategy. The stock grew in value considerably. Now that I am retiring, I need a new strategy - one that protects my savings so that my situation won't change even with changes in the markets.

Patricia spoke with a friend who recently set up a charitable gift annuity with a charity in Florida. Patricia called Boys Home and learned that if she executed a gift annuity with us, she would receive a good payout based on her age and that she would receive a charitable income tax deduction and part of the payment from the annuity would be tax free.

Patricia: I transferred my stock to fund 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 can afford to travel to see my grandchildren several times this year!

*Please note: The names and image above are representative of a typical donor and may or may not be an actual donor to our organization.