Donor Advised Funds and Qualified Charitable Distributions are two ways that you can maximize your philanthropic impact, while benefiting from tax advantages that may help you in your retirement planning process.
Who would benefit from creating a DAF or a QCD? If you are someone who is thinking about their retirement planning needs and has ever thought and of any (or maybe ALL) of the following:
"I'm thinking about my retirement, and I would like to spend more time giving back in the future" "I want to leave behind some sort of personal or family charitable legacy" "I'm always looking for ways to reduce my taxes"
Then setting up a DAF or QCD may be of interest to you - neither of these are REQUIRED to be part of your retirement planning process, but as your concerns and/or lifestyles change in retirement, you might be motivated to make some changes to your retirement plan and it is always good to know that this is an option.