401K Alternative
If you're new here, you may want to subscribe to my RSS feed. Thanks for visiting!
Just in recent years have corporations and churches discovered the benefit of encouraging each of their employees and staff to have a personal non-profit project. Just like a 401K plan is an essential part of a person’s savings and retirement, so is a 501C3 Plan on a non-profit basis. In these economic times everyone is looking for a safer place to put their finances and many are realizing that a nonprofit of their own is just the place they can invest their money, get a good return, and use it again later in life to fund their retirement.
501C3 Plans may even be more beneficial to a person upon retirement than a 401K because the Plans can employ them after retirement, giving them a consistent income for the rest of their lives. The corporation or church can even set up their 501C3 so that a portion (example 10%) of all donations that go through their project is donated back to the church or company’s endowment. Their non-profit project with 501c3 status can help the charities they are passionate about today and continue to employ them when they retire.
The biggest benefit to an employee is that others can contribute to their 501C3 Plan just like an employer contributes to their 401K plan. With many contributing to their 501C3 Plan, their fund could grow to millions making it something that could employ and benefit others than just themselves while giving back to the community and the world.
Did you enjoy this post? Why not leave a comment below and continue the conversation, or subscribe to my feed and get articles like this delivered automatically to your feed reader.
Comments
No comments yet.
Leave a comment