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

The new Secure Act 2.0 introduced the IRA Gift Annuity starting this year. It allows you to make a one-time charitable contribution out of an IRA for as much as $50,000 and get monthly income for life.

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#retirement #iragiftannuity #robberger

ABOUT ME

While still working as a trial attorney in the securities field, I started writing about personal finance and investing In 2007. In 2013 I started the Doughroller Money Podcast, which has been downloaded millions of times. Today I'm the Deputy Editor of Forbes Advisor, managing a growing team of editors and writers that produce content to help readers make the most of their money.

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DISCLAIMER: I am not a financial adviser. These videos are for educational purposes only. Investing of any kind involves risk. Your investment and other financial decisions are solely your responsibility. It is imperative that you conduct your own research and seek professional advice as necessary. I am merely sharing my opinions.

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[Nissan-hzzh]

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

[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.

[Tom-PlaylistKing-Smith]

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

[andreeph]

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 😊

[Omar-etsb]

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...

[richarddpetersen]

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.

[rkander]

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?

[auricgoldfinger]

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

[adamboester]

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

[jeanjasinczuk]

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

[MediaMaverick_]

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

[daveschmarder-US]

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.

[Mike-]

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