Most people think that they should have enough finances that can support them in their living after retirement. But it does not mean that you have retired so you will not able to support the causes that are important to you. If you had post-retirement planning to support your contribution to the charity then you can contribute even without having an income source in your future. If you put the right approach then you will be able to maximize your tax planning and it also helps you to identify your giving goals. WE Charity is a unique idea founded by Marc Kielburger to raise money to help and support less privileged people. He is also a New York Times Bestselling author, with eight published titles. He is the recipient of many honors and was named Canada’s Most Admired CEO in the Public Sector in 2015.
Here are some ways to increase your charitable impact in retirement:
Extend your giving period:
“If you haven’t got any charity in your heart, you have the worst kind of heart trouble,” said Bob Hope, a British-born American entertainer and comic actor known for his jokes and one-liners, as well as his success in the entertainment industry and his decades of overseas tours to entertain American troops.
Passionate people tend to invest their time, money, and resources in supporting their favorite charity to provide help to the people who are in deep need and to make this world a better place to live. But after their retirement when they do not have any income source then the impact of their contribution decreases. They will volunteer once a week or sometimes they forget to do so. You can take the help of a DAF that is created to support your charitable goals for the long run and in your retirement period, it will help you in supporting your donations even if you do not have any income source.
Establish a legacy:
Many people have already planned for using the benefits of a DAF before their retirement because they know that it will support them in the long run. Most of the donors form recurring grants that can extend the potential of their fund’s growth. It also offers you the opportunity to form a conversation with your family members for your future donations and involve them in supporting the cause you believe in.
Minimize fees and tax impact:
Well, every donor wants to have complete information about how their donations are been used and do it put any positive impact or not. If want to make sure that your donation can put a much better impact then focus on giving more to charity than to investment managers. DAFs can offer you high-performing investment opportunities but investors need to make sure that their funds are going through a good partner that has formed a strong investment principle.