Rediscovering Purpose Through Giving in Retirement

by Rhonda Page 

If you’ve recently retired, you may be figuring out the ideal balance of activities. If you’ve been retired for several years, you might be exploring what brings you the most meaning and fulfillment. 

Time and again, research shows us that finding purpose is essential to a happy and satisfying retirement. Consider the following:  

• - A large-scale, longitudinal study using data from 13,770 older adults, found that those with a higher sense of purpose were significantly less likely to develop unhealthy behaviors. 
• - Other research using a nationally representative panel of over 8,000 American adults determined that, contrary to some beliefs, retirement can actually increase a person's sense of purpose.  
• - A cross-sectional study of nearly 2,000 adults found that a strong sense of purpose is significantly associated with lower rates of depression and anxiety in both retirees and non-retirees.  

Retirement offers a unique opportunity to rediscover your sense of purpose beyond the boundaries of a traditional career. LCF’s Philanthropy Services team and charitable tools can support you on this journey. Here’s how: 

Check in on tax planning 
We can work with you and your tax advisors to ensure your charitable giving aligns with your estate and financial plan to achieve the impact you’re seeking. For example, we can help explore whether “bunching” charitable donations in higher-income years might allow you to exceed the itemization threshold, while using your donor advised fund to support your favorite causes steadily over time. 

If you’re 70 ½ or older, we can help evaluate whether tax-free transfers - up to $108,000 in 2025 - from your IRA directly to a designated, unrestricted, or field-of-interest fund at LCF would be an effective planning strategy for your situation.  

Involve the next generation  
Many retirees have more time to include children, grandchildren or close friends in their personal charitable activities. Our team can work alongside you and your advisors to name family members as current or successor advisors to your donor advised fund. Together, you can participate in site visits and attend educational events - strengthening family bonds while building a legacy of generosity across generations. 

Our staff can help you identify ways to include children and grandchildren in site visits to favorite charities and participate in education sessions about community needs and the nonprofits that are making a difference for people who live in our community. 

Build a legacy  
As Lincoln continues to grow and evolve, so do the needs of our community. Including philanthropy in your estate plan is a powerful way to create a meaningful legacy rooted in generosity and care. 

Many individuals choose to update their estate plans after retiring. As you work with your professional advisors, consider incorporating a gift in your estate plan that will allow your charitable legacy to live on for generations. This can provide significant tax advantages and ensure your charitable vision continues into the future. Whether you’d like to establish a permanent endowment to support the community’s greatest needs or provide support for LCF’s mission and operations, we are here to help design a plan that reflects your values.  

You can also name your donor advised fund as an estate beneficiary, and your children and grandchildren can then serve as advisors to the fund, continuing your charitable legacy in the family’s name. 

We look forward to working with you throughout your retirement years to ensure that your vision for the community is fulfilled through the power of giving. Please reach out to us anytime at 402-474-2345.