What to do with $50,000 now

Low interest rates and the recent stock market surge make this a challenging time to find the best places for your extra cash.

9 of 10

Give a gift that pays you back

Retired with a sizable portfolio? A charitable gift annuity gives you income plus a tax deduction -- and lets you help a worthy cause. You put a hefty sum into an annuity run by the charity (call your favorite for details). Take the deduction right away and collect the income until your death, at which point the charity gets the principal. Your interest rate depends on your age. For example, New YorkPresbyterian Hospital pays a 65-year-old 5.3%; a 75-year-old, 6.3%.

NEXT: Rebalance your portfolio without selling a thing

Last updated October 21 2009: 11:03 AM ET

Email | Print | Share | RSS

TWITTER
DIGG
FACEBOOK
DEL.ICIO.US
REDDIT
STUMBLE UPON
MYSPACE
MIXX IT

Paste this link into your favorite RSS desktop reader

See all CNNMoney.com RSS FEEDS (close)

More from Money

• What to do with $1,000

• What to do with $10,000

•

How would you spend $10,000?

More Galleries

8 great summer vacation deals

Want the perfect summer getaway? MONEY searched for destinations with balmy weather, unique attractions, fun stuff to do, and great deals from four different categories: beach, mountain, culture and city. More

Best ways to catch up on your retirement savings

Even the most financially responsible people make a few mistakes or run into obstacles along the way. These tips -- from cutting taxes to selling securities -- can preserve a safe retirement. More

Nearing retirement? Fortify your finances

Your financial goals are within reach. Here are tips and tools to make sure you achieve them. More

Special Offer