Double My CD Return
Valerie Green is a retired Science professor. She has
been a careful saver and has a number of certificates of
deposit.
Valerie: Over the past three years, the return on my CDs has declined significantly. I have looked carefully, but there just are not any CDs with a good rate of return.
I am also interested in a secure return. I want to know that a good return will be paid. The ideal choice for me would be a secure high return.
Valerie talked to a friend who had found exactly that choice. Her friend had set up a gift annuity with a favorite charity. Valerie thought that perhaps a gift annuity would be helpful for her.
Valerie: I called United Way and asked about a gift annuity. I was very pleased to discover that based upon my age, a gift annuity would pay close to 8 %. Plus, there would be a good tax deduction and part of the income would be tax-free.
After finding out how easy it is to set up a gift annuity, I transferred $25,000 from a CD that had matured into a charitable gift annuity. I am delighted with my close to 8% annuity. My CPA is also pleased that the charitable deduction will save over $3,000 in taxes this year. With my tax savings and increased income, I plan to take a very nice vacation this year!
Fixed payments for Valerie from the gift annuity are about two times what she was receiving from her one-year certificate of deposit. She is very pleased with the increased income and charitable savings.
For more information on one of the following options please call or e-mail Gerry Taylor at United Way of Northeast Georgia 706-543-5254 or gerryktaylor@bellsouth.net.
- You would like to see a presentation of the plan for Valerie Green.
- You also may have a CD. You would like to see the rate for your age and your personal tax savings.
- You would like a printed illustration of a gift annuity with your payout rate.