Episode 325 - Leaving Your IRA to Charity

New Retirement Radio with Dennis Prout Podcast

You may have heard the song “If” by the ’70s group Bread. The beginning lyrics are: “If a picture paints a thousand words, then why can’t I paint you? The words will never show the you I’ve come to know.” Unfortunately, we can’t even come close to turning a traditional IRA into a ballad, but we can perhaps help you to soar a bit higher than you thought possible by using the most highly taxed account you own for a higher purpose: charitable giving. In essence, how could you leverage a highly taxable asset to do the good you can help others accomplish more readily than you can on your own? On today’s show, we’ll discuss an article Dennis wrote for Ed Slott’s newsletter called “Why Leaving an IRA to Charity Makes Sense.” We’ll review all the benefits and options for gifting some or all your IRA to charity. Then Heidi will follow with Vanguard’s outlook for financial markets and their perspective on everything from inflation to markets here and around the world. Deann, of course, will include stats to keep the conversation engaging. Please remember … your questions are welcome! Tune in and take control!