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June 19, 2020By Erin @ Team Afford Anything

PSA Thursday – Your Complete Guide to Donor Advised Funds

Photo of a hand holding a cut-out pink heartWelcome back to PSA Thursday, a mostly-weekly segment in which we talk about how to handle money, work, and life in the middle of a pandemic.

In this episode, we cover what donor-advised funds are, how they work, how to open one, and the benefits of including a donor-advised fund in your financial plan or giving strategy.

Here’s what we discuss:

  • The functionality of a donor-advised fund
  • Reasons why you’d want to open one
  • A step-by-step overview of getting started with a donor-advised fund
  • The tax strategies you can employ
  • The tax benefits of a donor-advised fund
  • Why a donor-advised fund is a convenient, hassle-free way to donate
  • The potential downsides and considerations to make beforehand
  • Minimum requirements to open a donor-advised fund with Vanguard, Fidelity, and Schwab
  • The fees associated with the account
  • How to maximize the impact that you make with your contributions

Resources Mentioned:

  • Episode 207 with Sophia Bera
  • Five Principles to Boost Your Impact | Schwab
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#262: Ask Paula - I'm Taking a Mini-Retirement in a Pandemic. What Should I Do?
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Posted in: EpisodesTagged in: charity, psa thursday

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