Philanthropy isn’t just writing a check at the end of the year. In this episode, Derek and Dave break down how strategic giving fits into a strong retirement plan and why being intentional with your charitable decisions can reduce taxes and maximize your impact.
They talk through donor advised funds, bunching strategies, qualified charitable distributions, appreciated securities, and the warm hands vs cold hands approach to legacy planning.
This is a great conversation if you’re getting close to retirement, already in it, or simply want your wealth to support the causes you care about with purpose and clarity.
Chapters:
00:00 Philanthropy is more than writing a check
00:17 Derek and Dave kick off the conversation
01:03 Why retirees struggle to spend their own money
01:30 Why giving needs a real strategy
02:11 Understanding the emotional side of giving
02:35 The “three places to go” rule in retirement
03:39 Warm hands vs cold hands
04:08 Building your giving blueprint
05:17 Donor advised funds explained
06:10 How deductions and timing work
06:53 Bunching charitable years
07:27 Donating appreciated securities
08:26 Lessons from Ray Kroc
09:20 Why charities need planning too
10:24 Qualified charitable distributions
11:23 How QCDs reduce taxable income
12:15 Why QCDs matter for retirees
13:02 When to revisit your giving plan
13:23 Final thoughts for Thanksgiving.