How can retirees incorporate philanthropy into their financial plan?

The most frequently used approach is the qualified charitable distribution, which lets IRA owners age 70½ and older send funds directly from an IRA to a qualified charity. The amount is generally excluded from taxable income and can count toward that year’s required minimum distribution. Retirees also frequently give appreciated securities, establish a donor-advised fund to make giving consistent year to year, or build charitable gifts into their estate plan.