When it comes to charity, we're all big picture people.
We want that dollar we donated to turn into something bigger; the tipping point and a chain reaction that dramatically changes one life and betters our community. If we didn't see it that way, we wouldn't give at all. We all know what a dollar can buy these days, sadly it's not all that much.
What if I said that there was a way to take that one dollar and potentially turn it into two or even three dollars? The Forbes Magazine article titled "Generous Tax Tricks", by Ashlea Ebeling, offers a wonderful breakdown of what some investors today are doing to protect and grow assets that they have designated to make a difference.
In the article, we're introduced to a couple called the Brodsky's, who are using a vehicle called a Donor Advised Fund. Through this vehicle, they are able to contribute cash and even investments, like stocks and mutual funds. They take their deduction, allow the assets to grow and use them when they see fit. As Norm Brodsky says, "We felt we'd be best served by going with a donor-advised fund. We wouldn't have to have accountants and lawyers at every step, and it gave us a lot of flexibility." Flexibility, ease of use, and something you feel good about; what could be better?
Have a wonderful Thanksgiving!
(This article contains the current opinions of the author but not necessarily those of Brighton Securities Corp. The author's opinions are subject to change without notice. This blog post is for informational purposes only. Forecasts, estimates, and certain information contained herein should not be considered as investment advice or a recommendation of any particular security, strategy or investment product. References to specific securities and their issuers are for illustrative purposes only and are not intended and should not be interpreted as recommendations to purchase or sell such securities).