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Once you attain the age of 59½ you can generally take distributions from retirement plans without penalty. If you make an earlier withdrawal you will likely be assessed a penalty, which will be in addition to tax owed on the amount withdrawn.  There are some exceptions: If you use the money to buy a first home or pay for medical expenses, the penalty may not apply.

And when you reach age 72½, you will be required to begin taking distributions from your retirement plans. A required minimum distribution (RMD) is the minimum amount you must withdraw from your account each year. This requirement applies to qualified, pre-tax investments in retirement funds. Roth IRAs do not require withdrawals until after the death of the owner.

If you inherit a retirement plan (IRA, SEP, annuity, etc.) from someone who had already begun taking distributions, you will need to continue making withdrawals, and you will be taxed on the amount you receive. For some, adding the withdrawal sum to current income may result in a higher tax bracket, creating an unwelcome tax burden.

If you are age 72 ½, the tax implications for a required minimum distribution can be avoided.  If distributions are made directly from the retirement account to a qualified charity instead of an individual, the tax can be avoided.  Such distributions may be made each year and can be applied to satisfy some or all of the required minimum distribution.

If you are considering when to make a withdrawal from retirement funds or are in need of making a Required Minimum Distribution (RMD) and would like more information, we are happy to help.

Can We Help? 

We have prepared a special report, Charitable Giving Through Individual Retirement Accounts, to help you determine how IRA distributions work as an excellent charitable giving tool.  The guide is free and can be downloaded here.  There is no cost or obligation.

Contact Jeff coon at Jcoon@fameworld.org for more information.

©2021 CDF Capital Foundation

“As for the rich in this present age, charge them not to be haughty, nor to set their hopes on the uncertainty of riches, but on God, who richly provides us with everything to enjoy.  They are to do good, to be rich in good works, to be generous and ready to share, thus storing up treasures for themselves as a good foundation for the future, so that they may take hold of that which is truly life.”  –1 Timothy 6:17-19 (ESV)

What are the benefits of your work?  For most, the primary benefit is the monetary compensation or salary.  But the fringe benefits also have value.

Defined as, “an extra benefit supplementing an employee’s salary,” a fringe benefit package might include: health insurance, life insurance, discounted meals or services, a company car, or many other compensations.

In his book, The Treasure Principle, Randy Alcorn discusses four benefits of living a generous life.

A Good Relationship with Our Heavenly Father –Paul told the Corinthian believers, “God loves a cheerful giver.”  Of course, God loves us all but when we are generous, we align ourselves with God (John 3:16) in a way that brings us closer to His heart and character.

Freedom from the Encumbrance of Things – Physics teaches us that the greater the mass of an object, the greater its gravitational pull.  In life, this plays out as the more we accumulate, the more time, energy, and cost is required to use and maintain it.  A wealthy businessperson once told a colleague, “It takes a lot of time and money to maintain three houses.”

True Prosperity – Generous Christ-followers keep score differently.  It is not how much is accumulated in the here and now, but what is distributed (given) for others’ benefit that matters.  This is what Paul taught in 1 Timothy 6:17-19: “As for the rich in this present age, charge them not to be haughty, nor to set their hopes on the uncertainty of riches, but on God, who richly provides us with everything to enjoy.  They are to do good, to be rich in good works, to be generous and ready to share, thus storing up treasures for themselves as a good foundation for the future, so that they may take hold of that which is truly life.”  (ESV)

Joy – “In all things I have shown you that by working hard in this way we must help the weak and remember the words of the Lord Jesus, how he himself said, ‘It is more blessed to give than to receive.’”

I would encourage you to explore the many facets of generosity. One sure reason is that giving with an open hand and a generous heart brings joy to the giver!

These are a few of the benefits of living the giving life – a life of generosity to others.  Now you can decide which are the primary and which are fringe benefits in your life.

©2021 CDF Capital Foundation

Many of you have responded generously to the news a couple weeks ago about a partner on the Bay of Bengal!  This active partner was ready to complete construction on a Primary Care Clinic, but didn’t have the funds- and might not be able to easily receive them after March.

This partner had the foundation poured when FAME Executive Director, Bill Warren visited in February of 2020 but had to stop construction because of the global shut-down.  In April and May of 2020, the funds they had saved for their construction were used to feed thousands of starving people in the 35 villages where they have planted churches.

In February of 2021, Bill Warren agreed, in faith that God’s people like you would respond, to send them half of the funds we had committed if they would begin construction immediately.  And they did!

Look at the progress!  They began 48 hours after receiving the wire transfer of funds!!

We still need to raise $ $19,800 to replenish the Reeves Project Fund from the first $15,000 sent ahead and the remaining $15,000 we HOPE WE CAN SEND!  If you can help us reach this goal, any amount will help!

If you aren’t sure how this will impact these fishing villages, let Jeff Coon tell you about emails that he and Bill Warren receive often.

Every couple of weeks I can count on a boost of encouragement about medical evangelism with our partners from this Bay of Bengal partner.  Why?  Because I receive an email that has an average of 12 photos of baptisms.  Not baptisms of children who have grown up in a church family…but of adults who have made a serious decision, even in the face of persecution, to follow Jesus Christ!  Here’s a couple of photos for you to enjoy!  I could wallpaper FAME’s Warehouse with the hundreds and hundreds of baptism photos I’ve received the last few years!

This clinic will save lives physically and spiritually!

As this long-awaited Spring season finally approaches, I am encouraged in knowing that after a long winter, and year for that matter, that you have remained steadfast in your partnership by praying for the ministry of FAME.  We are blessed to have so many faithful partners in ministry.

This month, we ask for prayers for our mission partners in Myanmar and Haiti, along with the countries themselves as both countries are in the midst of political and civil unrest. Pray that a resolution will happen quickly and that peace may return. Pray also for the safety of our partners there.

Also, please pray for many of our individual volunteers and volunteer groups that come on a regular basis to serve. Volunteers are a vital part of the ministry, and we are so blessed to have so many come to give of their time and talents. If you or your church would like to learn about volunteer opportunities at FAME, you may contact Barry Reed, Director of Mission Resources at barryr@fameworld.org.

Also, please join us in prayer as you did in January, for various countries in the world by using the website or book Operation World. www.operationworld.org/countries-alphabetically. In January, the countries for whom we prayed were countries where we have partners and are currently working. This month, please pray for some of the countries where we are not working, but where we pray opportunities may open for us to share the love of Jesus through medical evangelism.

Click here for the March Prayer Calendar