GOAL: Giving

Money isn’t just for paying the bills: It allows us to take care of the people and causes we care about. You’ve worked hard and sacrificed so that you can give to others, whether that means putting your grandchildren through college, leaving an inheritance to your heirs or supporting your favorite charities.

It’s easy to incorporate giving into your financial plan.
Step 1

Use your investments

Maybe you’re in retirement and have the funds you need to live your golden years comfortably. Investing in low-risk mutual funds can help you preserve your nest egg – and maybe even grow it – so that you can achieve your giving goals.

Step 2

Select an account

You can use a standard individual or joint taxable account for almost any type of giving. But other account types may be better in some situations. For example, you can support a child by contributing to an UGMA/UTMA. If you’re retired, you may be able to save taxes by donating the required minimum distributions from your traditional IRA to a favorite charity. Donations from trust accounts may be beneficial if you have a large estate. There are many rules and restrictions involved, though, so you should discuss your options with a tax or financial advisor.

  • Suggested for this goal
  • Could also work for this goal
  • Not typically used for this goal
Step 3

Choose your funds

It’s all about timing. If you have more than five years before you make your gift, you will probably want to invest a good chunk of your savings in a stock fund. Equities carry higher risk, but historically they have delivered higher long-term returns. If you’re planning to make your gift in the next year or two, you’ll probably want to shift assets to funds with lower levels of volatility. Homestead offers funds across all of these categories to help you reach your goal.

After years of hard work, giving to others can be an extremely rewarding outcome. We’ve got the tools to help you include your giving goals into your financial plan.  

Your next step: 
You can open an account in any of our funds online today. If you need help deciding which fund or combination of funds is right for you, visit the Make a Plan page.  Or, call the Homestead service line at 800.258.3030 and choose option 2.

< SEE OTHER GOALS