So many factors are at play when we’re planning our retirement. Our planning may include having one or more Individual Retirement Accounts (IRA).  We put money away, sometimes for decades, planning to think more about it when the time is right.  As more and more of us are actively in the workforce longer, we can lose track of some of the rules that govern our IRAs.

It’s important to keep our 70 1/2 birthday in the front of our mind (not necessarily for a party, but that’s always a good idea), as that milestone is key when it comes to IRA donations . Once we reach 70 1/2 years of age we must take a Required Minimum Distribution (RMD) from our IRA then, and each year following.  Not doing so, for any reason, presents us with penalties and tax consequences. Whether working or retired, for some, the annual RMD is taxable income.

You can opt to use your Required Minimum Distribution as a charitable gift. A gift from your IRA directly to one or more charities is not taxed as income to you. It’s a win-win, if it fits your situation.

There are a variety of factors that determine your Required Minimum Distribution. Your financial advisor is the best resource to help decide which IRA donations are the best from a tax perspective.

For more information on giving to Future In Sight, please contact Jane Driscoll, Vice President for Development, Marketing & Communication at or (603) 565-2427.

Future In Sight Center provides vision rehabilitation services for New Hampshire residents of all ages who are blind and visually impaired. Founded in 1912, the Association delivers assistance in virtually every community statewide. Services include social work, rehabilitation teaching, orientation and mobility instruction, low vision services, adaptive technology support, and public education. For more information on our programs and services please contact us or call (603) 224-4039.

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