"Wait until you are older." How we hated to hear that when we were children, because we were never sure if our parents were right that it would be better if we waited.
But now we are older and wiser...and we are still not always sure. But Mary Rose Moore is. She has done a unique life income gift that won't pay her an income now ? but later. It is called a Deferred Charitable Gift Annuity.
Why would she not want to get the income now? Because she doesn't need it now.
So why not wait until she needs it? Why not wait five years and establish a Charitable Gift Annuity then? At her age, a normal Charitable Gift Annuity would earn her 7.4% interest. Five years later the same annuity would earn her 7.9%. But by making the gift now and deferring the start of her income for five years she will earn 9.8%...guaranteed for the rest of her life and she will be a major donor to Hillcrest.
This Deferred Charitable Gift Annuity is also a wonderful tool for grandparents who want to benefit a favorite charity and help their grandchildren through college. The Deferred College Gift Annuity defers income until Junior is ready to start college and lasts for a specified number of years...the years he or she is in school.
So let's say that soon after Junior is born Grandma and Grandpa establish a College Annuity with a gift of $50,000, which will start paying income in 18 years, and continue for four years of undergraduate study. Junior will receive about $26,700 a year. Then after graduation, the charity gets over $96,000.
So you see...there is a good reason to wait until you are older. If you want to hear more about Deferred Gift Annuities or any other income producing gift, call Reggie Ingram, Hillcrest's Chief Development Officer.