Stretching Your Income

Have you ever faced the situation when there was just too much month left at the end of your income? Seniors know that living on a fixed income presents many challenges. Ever-increasing living expenses are a certainty while the universe of investment choices and rates of return are anything but certain.

Consider Mary who faced this very situation. A retired elementary school teacher, she lives modestly with her financial needs being met by Social Security, a teacher's retirement, pension, and interest from Certificates of Deposit. She had just been notified that her $25,000 CD was maturing and that she could reinvest in another CD at 6.5 percent. Mary wanted to look at alternatives that would pay a higher income, but at age 82, she was not willing to take the risk involved. What was her solution?

Mary had heard about AG Financial Solutions and scheduled a meeting with a regional consultant in her area who shared with her that she might consider a charitable gift annuity. A charitable gift annuity would provide her with guaranteed payments of 9.6 percent for the rest of her life-payments of $200 per month versus $135 from the CD. Over 60 percent of each monthly payment would be returned to her tax-free, and she would generate a charitable tax deduction of over $12,000. At Mary's passing, the remainder of her annuity will go to bless ministries that Mary designates. Mary was also pleased to find out that in the event of health problems requiring extended care, the annuity would remain in place, providing income for the rest of her life even if Medicaid assistance were needed.

Mary's gift to the kingdom has provided her with a safe, secure, lifetime income and allowed her the opportunity to know that her gift will benefit the Lord's work.

AG Financial Solutions
3900 S Overland Ave.
Springfield, MO 65807