Rollover IRA

How to Give to Charity While Reducing Your Taxes

Americans are a generous bunch. Among the world economies, no country gives more than the United States. It’s not even close.

Charitable giving helps fulfill a deep sense of purpose among many donors. Be it giving to a church, a local food pantry, or an arts organization; these organizations carry significance to many Americans. In this light, not only does it not feel like giving money away when charitably donating, it can actually feel like a reward to the donor!

But giving doesn’t have to be strictly about helping others. It can lower your taxes as well. In this post I’ll share the basics of a gifting strategy many charitably-inclined retirees can use right away–the Qualified Charitable Distribution.

What to Do With Your 401(k) When You Retire

If you’re approaching retirement with a healthy 401(k) nest egg, you have a lot to be proud of. You’ve likely led a career of hard work at a job that--let’s face it--you probably didn’t love all the time.

Now what? Making the decision of how to take your hard-earned savings and live on them for 25 to 30 years is serious business. Among the many concerns of most families: What if I outlive what I saved up?

Here are four commonly considered approaches to handling your 401(k) retirement funds--along with some pros and cons for each.