Want to donate to your favorite good cause while helping yourself, too? Plunk 50 grand into an annuity run by a charity, take the tax deduction, and collect income for the rest of your life.
When you die, the organization keeps the principal. Most charities adopt the standard payouts suggested by the American Council on Gift Annuities. To set up an annuity, call the organization donor office directly.
The payoff: Today a 65-year-old gets 5.3% a year; 6.5% for a 75-year-old.
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