The Giving Fund

<p><strong>Josh: </strong> Welcome to the making smart decisions podcast. I'm Josh Tirado. And today, we are covering donor-advised funds. Hold on, stop. Don't roll your eyes. Don't go to sleep. A donor-advised funds. It doesn't sound fun, right? Ooh. What's yeah, I'm gonna move on.</p><p>[00:01:42] Don't move on. Listen to me for a second. . Donor-advised fund is the overreaching category. The one I use, they actually call it the giving fund. So the giving fund is a lot more fun. Let's dive into that just a little bit. This is actually important.  A growing segment of the financial world is something called donor-advised funds, or in this case, the platform I use they've branded it, the giving fund.</p><p>[00:02:07]It's a concept and its actual financial instrument. Cause that's the false certain rules. It is set up to enhance your giving to a charity, to a qualified charity, to a 501c3.  The way it works is you set up this, and we call it a fund. It's actually the way I set it up as it's set up as a brokerage account.</p><p>[00:02:27] With the investments in there, you get to pick the investments, but you put a certain amount of money into the fund, into the brokerage account, and that's your donation. Whatever you put in there, you're getting a tax break on, and as the rules currently stood before now, things could change.</p><p>[00:02:40] Okay. But at this date and time, it was essentially unlimited the amount of money you could put in there. So you can take it. Five thousand fifty thousand five hundred thousand. You move it into your giving fund, your donor-advised fund, and you get the deduction on all the money you put in there. And then the money's in there, and the money grows, but to access the money that comes out of that has to be given to a qualified charity.</p><p>[00:03:06] So it allows you to maintain control of the money, control the investments in the money and give it to whatever charity you want. It doesn't have to go to all the one charity doesn't have to go all at once. You can mix