Put Your IRA to Good Use

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Ministry friend, Sue Dolfuss, recently shared why giving to Family Life Radio has been so important to her. “About 16 years ago my husband passed away, and I would lay awake at night not able to sleep. I’d turn the radio on at 2:00 and 3:00 in the morning and listen to Family Life Radio. It was just wonderful to hear the beautiful music and preaching, and it lifted me up.”

When Sue turned 70 and a half years old, she considered her retirement plans, and her financial advisor had some shocking news. He explained that “the IRS requires that you take a minimum distribution from your IRA or 401K every year at my age. So he told me I had three options. I could put it in a money market account, but if I did that, I would have to pay taxes on it. Or I could gift it to a family member. The third option would be to give it to a charitable organization and not have increased income for the tax year.”

 

Sue thought and prayed about it before making her decision. “I gave some to my church. I gave some to another charity, and the rest I gave to Family Life Radio. This was the first time I’d ever been able to give a big chunk of money to an organization that I believe in. I appreciate Christian radio so much, and it made me feel so good that I could use this money that way.”

You can do this too. Just talk to the asset manager for your IRA, and ask for a direct transfer of your required minimum distribution. Tell them how much you want to go to your church and your favorite charity. You might be surprised what a difference your IRA can make.

For more information visit http://flrplan.org/.