This week on The Retirement Readiness Podcast, Tim and Katie discuss how philanthropy can be woven into your financial plan, especially as you approach retirement. Together, they explore what it means to live well and give back, and how generosity—whether through time, talents, or financial resources—can become a meaningful part of your legacy.

They share personal family stories and reflect on how giving habits can remain static if not intentionally revisited over time. The conversation covers the practical impact of updating your charitable giving to match your current capacity, as well as ways to be more strategic with philanthropy, like using donor-advised funds or qualified charitable distributions (QCDs). The hosts also touch on the emotional side of giving, addressing concerns about “giving for the right reasons” and reframing tax benefits as a way to give more effectively.

As Tim notes, “If I know what my end goal is, then why would I not try to do it as efficiently as possible?”

Additional discussion expands the concept of philanthropy beyond writing checks to include supporting local businesses, sharing values with family, and designing a retirement that reflects generosity and abundance.

Click play for practical tips and thoughtful perspectives on making philanthropy a purposeful, flexible part of your financial plan.

3 Key Takeaways

• Charitable giving shouldn’t be stagnant—regularly reflect on your capacity for generosity as your life and finances evolve, especially in retirement.
• Strategic tools like donor-advised funds and QCDs can help maximize the impact of your giving and allow you to involve family in your philanthropic legacy.
• Philanthropy goes beyond money; it includes time, talent, and supporting your community in ways that align with your values and the legacy you want to leave.

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