Planning for retirement is core to good financial planning, and maintaining income through our retirement years is a common goal. Planning is also core to effective philanthropy, and Barry '60 and Ruth Carling '59 Budlong approached their retirement planning goal with their philanthropic plan in mind. “Barry and I were mindful of our income needs after we retired, but we also wanted to create a plan that would help us achieve a philanthropic goal, supporting a liberal arts education at St. Lawrence through our estate. So we created a charitable gift annuity at St. Lawrence several years ago that will start paying us income in 2010. Because the start of income is deferred, it will pay a higher rate than otherwise, and we were able to take an income tax charitable deduction in the year we made the gift. We know that the income will be guaranteed for the rest of our lives, and we feel good about making a statement on one of our philanthropic priorities, the future of St. Lawrence and a liberal arts education.”

We are all philanthropists. How effective is your philanthropy? Making the most of our giving and volunteering is worth some reflection. Order our Philanthropic Planner to better define your philanthropy, craft your own mission statement, and create your own philanthropic plan.

Is a gift annuity right for you? Request our workbook, Will a Gift-With-Income Plan Work for Me?