Couple With Planner Flipped Web Crop

Myths of Charitable Giving

Article Type: Tips & Insights

There are several smart and powerful ways to support your favorite ministries. However, lack of experience or misunderstanding prevents too many generous Christians from taking full advantage of these opportunities.

Here are a few common charitable giving myths...

Myth 1: Checks or online gifts are the best way to give. Many people give cash to their favorite charities because it’s so familiar. But, you may be able to increase your impact, reduce your taxes or even receive income for life by giving non-cash assets.

Myth 2: Gifts in a will are only for the wealthy. People often give their largest gifts by including their favorite ministries in their wills — and you don’t need to own massive amounts of money or property to make a big difference! If you own your home and have a retirement or investment account, for example, you would be surprised how great your Kingdom impact can be.

Myth 3: It’s best to save appreciated assets in case you or your loved ones need the income. Life income agreements allow you to give appreciated assets AND receive income for life. You can eliminate the hassle of managing assets that you no longer need or care to manage (such as rental or vacation property), support your favorite ministry and secure ongoing payments for you and your loved ones.