Secure Act 2.0 IRA Charitable Annuity

Hay Harvesting

Secure Act 2.0 IRA Charitable Annuity is a relative new addition to the basic IRA program.  I’m providing several links for interested readers in this one-time charitable contribution of $53,000.  The idea is the following.  An individual is permitted to make a one-time contribution of $53,000 (will likely be increased next year) to a qualifying charitable organization and will then draw income from that annuity.  The income is taxable.

This first link goes of the basics of the IRA Charitable Annuity program.

Here are more links that may add to the above explanation.

https://actecfoundation.org/podcasts/charitable-remainter-trust-crt-secure-act/

https://greaterpublic.org/blog/secure-act-2-0-offers-new-opportunity-for-charitable-gift-planning/

This morning I received an example “contract” where a $53,000 contribution out of my IRA would yield an income of 8.8%.

Look over this information and post your comments in the space below.  I’m interested in what others think of this charitable option.  If you find other videos of interest, post them in the Comment section.  Let’s start a discussion.  What are the negatives or drawbacks to this plan?