A Look at Qualified Charitable Distributions and Donor-Advised Funds At a recent meeting, our group had a thoughtful discussion about generosity and charitable giving in retirement. The scripture we reviewed comes from 1 Timothy 6:17-19 ESV, which in part notes, we “are to be rich in good works, to be generous and ready to share.” We then explored practical methods to practice generosity through two tools: Qualified Charitable Distributions (QCDs) and Donor-Advised Funds (DAFs). Both offer ways to give more intentionally and, in many cases, more effectively. However, they function differently, and understanding how each fits into your situation can greatly influence not only your taxes but also your approach to generosity at this stage of life. What follows is a straightforward overview of both options, along with some practical insights from our group’s experience. Giving Directly from Your IRA: Qualified Charitable Distributions For those of us in our early 70s, Qualified...
This blog represents the collective wisdom and insights from the regular meetings of a group of guys approaching or recently retired. We discuss topics from the practical financial and investment decisions to the spiritual and aspirational aspects of retirement. The content of the blog is written by a number of individuals and each post reflects their personal perspectives and views.