If you’ve recently retired, you may still be exploring how to spend your time in a meaningful way. Even those who have been retired for several years often continue refining how they spend their days. Time and again, research shows that finding purpose is an essential part of a happy and fulfilling retirement. Consider these studies:
- A large-scale, longitudinal study published by the National Library of Medicine found that among 13,770 U.S. adults, those with a strong sense of purpose were significantly less likely to develop unhealthy behaviors such as poor sleep, physical inactivity, or unhealthy body weight.
- A 2025 survey conducted by Lincoln Financial Group revealed that while 77 percent of Americans in their 50s and 60s see retirement as a time to pursue their passions, only 38 percent have planned for that aspect of their future. The report emphasized that retirement planning should include more than just finances—it should also account for personal fulfillment and purpose.
- A recent article from Investopedia highlighted that volunteering during retirement is linked to improved mental health, reduced isolation, and better physical well-being. Experts noted that staying active through service helps retirees maintain a sense of meaning in their day-to-day lives.
Indeed, retirement offers a unique opportunity for individuals to rediscover their sense of purpose beyond the confines of a traditional career. The Crawford Heritage Community Foundation’s (CHCF) team and charitable tools can play a pivotal role in this journey. Here’s how:
Start with smart tax planning
We can work with you and your tax advisor to make sure your charitable giving fits into your overall financial and estate plans. For example, it might make sense to group several years of donations into one year if your income is higher, so you can take advantage of tax deductions. You can put those gifts into a donor-advised fund and then support your favorite charities over time from that fund.
If you are 70½ or older, we can also help you look at whether making a donation directly from your IRA, up to $108,000 in 2025, could be a good option. This kind of gift can reduce your taxable income and go to a specific fund, a general-purpose fund, or one that supports a cause you care about in the community.
Include your family in giving
Retirement can be a great time to share your values with the next generation. Many people use this chapter of life to involve their children or grandchildren in charitable giving. You can name them as advisors or future advisors to your donor-advised fund, giving them a chance to learn about causes you care about and even visit local nonprofits with you. It’s a meaningful way to spend time together, teach the importance of generosity, and build a family tradition that lasts for years to come. Our team is happy to help you find ways to get your family involved and make giving a shared experience.
Leave a lasting legacy
Retirement is often a good time to update your estate plans. As you work with your tax and estate advisors, consider adding a gift that helps your charitable values live on. One common option is to create a fund at the community foundation with a gift from your IRA. This can offer tax benefits and support causes that matter to you.
We can help you create a fund that receives assets from your estate, whether it’s from an IRA or another source. You can choose to set up a permanent endowment that supports the community’s greatest needs, or a fund that helps the foundation continue its mission well into the future.
Christian Maher, Executive Director
executive@crawfordheritage.org
814-336-5206