DONOR ADVISED FUND

When you give, you receive.

That’s why donor advised funds are a great idea. My guess is, that you’ve found this post because you’re looking to learn more about donor advised funds, and how this can build your wealth and give you a tax deduction?

By the end of this you will have your answers you want about charitable giving and more!

I too am on a prosperity journey, so I made this post to explain clever ways to give and save with a donor advised fund in 3 simple steps.

I am a Certified Financial Planner, investment adviser and CEO of Clear Sky Wealth, and for over 13 years I have been working with self-employed women to help build their wealth. Let’s build more wealth...

1) The first step is to know what are donor advised funds?

These clever funds are kind of like a personal charitable savings account.

You can put as much money as you’d like into the account at any time, and you can keep it there until you are ready to give.

Donor advised funds is just as it sounds: you donate cash or appreciated assets into a diversified allocation of liquid investments: such as stocks, bonds and cash.

And, you receive a tax deduction for your generosity to charitable organizations.

When you make a gift to a donor advised fund. you are generously giving and no longer can use the funds for personal use.

2) What is so great about a donor advised fund?

It allows you to make charitable contributions, receive an immediate tax benefit, and grant money over time.

This is especially helpful if you are undecided on an organization to give to, or want to donate to multiple organizations.
Let’s say you bought Google stock 10 years ago and have made a lot of money on it. You need to diversify some of Google and you want to get a deduction on your taxes.

Rather than selling your Google stock and generating taxes, donating shares to a donor advised fund is an option to make a charitable contribution and receive an immediate tax break.

Once you donate Google shares to a donor advised fund, the stock will be sold, the money will be diversified into investments, and you will not owe any taxes on the sale of your Google stock because it is in a charitable fund.

3) You might be wondering, what happens when you donate to donor advised funds?

This is the third step. When you donate cash or appreciated assets to a donor advised fund, you are giving away that asset. The only real control you have is which charity you direct it to. The funds are no longer available for personal use.

Donor advised funds are becoming more popular because they are easy to establish, flexible and most of the time the transactions can all be done online. And you don’t have to be über-wealthy to open a donor advised funds. Some sponsoring organizations require a donation of just $5,000 to get started.

Earlier I mentioned donor advised funds can help you build your wealth. How could this be if you are giving away or donating your wealth?

Ask some of the wealthiest people you know how they built their wealth. Most of them will tell you that they gave of their time, talent, and/or money.

If you have made giving money a practice, or want to establish a consistent giving of money practice, donor advised funds make it easy to contribute, manage, and distribute the funds to the charities of your choice.

If your primary reason for opening a donor advised fund is for the tax break, be aware there may be other more advantageous tax breaks for you. Consult your tax advisor first.

And, to discover more ways to align your money with your values and dreams, get our Wealth + Life Balance Guide.

https://www.stephaniekremic.com/wealth-life-balance

Thank you for watching this video, and taking your next step in money happiness with Clear Sky Wealth. I’ll talk with you soon.