Nov 27, 2024
As we approach the season of giving, many seniors find themselves reflecting on the legacy they wish to leave behind. Charitable giving not only allows seniors to support causes they care deeply about but also offers practical benefits that align with their financial and life goals. For seniors, charitable contributions can be a meaningful way to stay connected to their communities. Whether it’s donating to a local food bank, supporting arts programs, or contributing to a favorite church or nonprofit, these acts of generosity reinforce a sense of purpose and belonging. Many seniors find joy and fulfillment in knowing their contributions make a tangible difference in their communities and beyond. Charitable giving can also provide some financial benefits. For example, donations can sometimes reduce the amount of one’s taxable income, which may help seniors keep more of their money working for them. Some retirees may even be able to give directly from their retirement accounts in a way that supports a charity and provides tax savings. These are simple yet effective strategies to consider when planning gifts, and a financial advisor or tax professional can offer guidance tailored to your personal situation. Downsizing or transitioning to a new home can also present opportunities for charitable giving. As a Seniors Real Estate Specialist, I often work with clients who are decluttering and preparing their homes for sale. Donating gently used furniture, clothing or other household items to local charities can ease the moving process while helping those in need. Additionally, some seniors may choose to direct a portion of the proceeds from their home sale to a cause close to their hearts, turning a new chapter into a chance to give back. Giving doesn’t always have to be monetary. Many seniors volunteer their time, skills and wisdom to local organizations, creating lasting impacts in their communities. This type of charitable effort often fosters new relationships and a sense of vitality that enriches retirement years. Whether your focus is on financial giving, donating household goods or lending your time, every act of kindness counts. Let this season of giving inspire us all to make a difference and strengthen the communities we call home. Together, we can build a legacy of generosity that benefits all generations. Allison McMillan is a licensed PA Realtor with Keller Williams Platinum Realty in Wyomissing and a Designated Seniors Real Estate Specialist. Website: www.homeswithallison.com.
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