Issue 9, 2025
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| In this issue: | Buying your first home? Qualified Charitable Distributions |
 | Buying your first home: Are you read? A 5-minute mini-webinar. Owning your own home is a dream achieved by millions of Americans each year. Are you ready to be one of them? As the word dream implies, there are emotional reasons for owning your home. Each improvement you make is to a home you own. There’s the satisfaction of knowing every blade of grass you mow is yours. And that family gathering is in a place decorated and painted in the color you choose. The responsibility But being your own landlord brings the same demands you may expect from whoever you rent from today. You pay for repairs, property taxes, insurance, and homeowners’ association dues. And that pride in a well-maintained yard comes only after giving up an evening or part of a weekend to mow it. Are you ready? The federal Consumer Financial Protection Bureau provides eight questions to help you consider whether you’re ready for home ownership. If you can answer “yes” to these questions, you may be prepared. Learn more with Buying Your First Home, a mini-webinar from My Penny Earned. It’s available at no charge to Alameda County employees and retirees. ➤ Already registered? Log in and watch the 5-minute mini-webinar here. ► Not registered yet? See your email newsletter, or the Register button above, to learn how to get started. |
 | Make a Charitable Difference with your RMDs A 6-minute mini-webinar. Subscriber Question: “Is there a way to give to charity directly from my retirement account, without increasing my taxable income?” This is a common question for retirees. You spent years saving for retirement, now you have to consider how to spend it – without overly impacting your taxes. And Uncle Sam is waiting to push you along with Required Minimum Distributions (RMDs). If you have causes you’re passionate about, you may be interested in the Qualified Charitable Distribution (QCD). A QCD is a direct transfer from IRA to a qualified charity. This could be a religious congregation, your local museum, or another qualified nonprofit that supports a cause you care about. A key point here is that the transfer must come from an IRA. It cannot come from your employer-based retirement savings account, such as a 457(b) or 401(k) account. Key points: • You must be at least 70 ½ at the time of the transfer. • The transfer must go directly from your IRA custodian to the charity. • The IRS limits how much you can donate each year. • The amount donated is excluded from your taxable income. • If you are already required to take RMDs, a QCD counts toward that obligation for the year. Learn before you leap There are important rules and common pitfalls to consider before pursuing a QCD. Learn more about how your RMDs can make a difference to charitable causes you care about. Check out My Penny Earned’s mini-webinar, Qualified Charitable Distributions. ➤ Already registered? Log in and watch the 10-minute mini-webinar here. ► Not registered yet? See your email newsletter, or the Register button above, to learn how to get started. |