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Jewish National Fund's award-winning Planned Giving Department helps you meet your personal, financial and estate planning goals by making a lifetime or testamentary charitable gift. Learn what types of assets make the best gifts, and how to make a gift that provides tax benefits and even life income.
Sheldon Kay has made some good financial decisions in his life, but one of his biggest recommendations to those looking for investment tips might surprise you. It's simple, giving back with a Charitable Gift Annuity (CGA) which can pay unexpected dividends for the savvy philanthropist, as Sheldon has found.
Like many in the Jewish community, Sheldon grew up putting coins in a "pushke" or charity box to support the land and people of Israel. After retiring at age 55 from a career as a thermodynamics engineer at Lockheed Martin, Sheldon had a plan for how he would finance the retirement of his dreams, filled with travel and activities, which included a blend of savings, retirement, and social security. However, when several Municipal bonds were called and interest rates at the time left much to be desired, he found himself with an unexpected opportunity. Thinking back to his childhood coins, Sheldon decided to establish a CGA with Jewish National Fund thanks to excellent rates and their vision and accomplishments in Israel. As for why people should consider a CGA, Sheldon says it's a simple calculus, "You get a tax deduction, you get a nice income, and the rates are really good!"
His charity of choice, Jewish National Fund-USA, is the leading philanthropic organization supporting the land and people of Israel. The organization plants trees, builds community infrastructure, sources water solutions, improves the lives of people with disabilities, supports agricultural and environmental research, and much more.
Sheldon has made his returns work doubly, as he explained that because the CGA income is reliable and consistent, "My stock market investment risk factor becomes more tolerable, which leads to rewards and allows me to put more money in my CGAs, increasing my disposable income."
As for the benefits, Sheldon credits his CGAs with the travel, sport, and lifestyle he enjoys in his retirement, and said, "Thanks to CGAs, my disposable income is much greater than I thought it would be, it allows me to travel and do what I want."
Now, the New Yorker turned Californian enjoys knowing that he's making a difference and benefitting from it along the way. Between regularly skiing at Tahoe, Sheldon says he tells others about CGAs and why they should consider one too. As for why Sheldon chose Jewish National Fund CGAs, his advice there is also simple, in addition to a good rate, "be happy with the charity that's offering it."
To learn more or to receive a complimentary personalized detailed illustration, please contact our Jewish National Fund Planned Giving Specialists at 800.562.7526 or [email protected] .