Ask A Planner Steve

Kingdom Causes and Income for Life

Article Type: Ask a Planner

Q. Is there a way to support my church and favorite Kingdom causes – AND receive income for life?

A. Yes! One of the ways to do this is through a charitable gift annuity (CGA) which makes this possible for you and your family. Establish a CGA by gifting cash, stock or other appreciated assets to your church and the ministries close to your heart. In exchange, you’ll receive an immediate tax deduction and then fixed payments for life.

Q. How much will income from my annuity be?

A. The older you are when you begin a gift annuity, the higher your payment will be. For example, a single person who is 70-years-old receives a payment rate of 5.1%. The rate for a single 80-year-old is 6.9%.*

Q. Will the amount of my payment ever change?

A. No. Once you initiate a gift annuity, your payment amount is established for life, regardless of what happens to the economy or stock market.

For answers to these and other frequently asked questions, contact us.

*Updated to reflect the current annuity rates as of November 2019.