Text Resize

Fixed Income for Retirement

Fixed Income for Retirement

John Smith* grew up in central Virginia. His mother was a young widow and raised John and his siblings with a desire to learn and appreciate what an education can bring. She also taught them the value of money and the importance of saving and investing.

John and his brothers are veterans of WWII but John is the only living member of his once large family. After the war he went to college, worked in business and traveled widely. He also became a fan of public broadcasting.

Along with appreciating the news and public affairs programs on WETA, John also enjoys the vast history that is available on public television. He is also a loyal opera fan and a great supporter of WETA FM.

John is a savvy investor, and when the economy collapsed in 2008, he decided to invest in WETA with a charitable gift annuity. (A gift annuity is a contract between a donor and a charity.) In exchange for John?s generous contribution, WETA promises to make fixed payments for life to John. Because he established his annuity at age 83, John receives a generous quarterly payment at the rate of 8.3% for the rest of his life. He also receives a tax deduction for several years. When John dies, the remainder of his annuity will benefit WETA.

*Donor wishes to remain anonymous