Catalogue Nonprofit News
Retiring With a Windfall? How to Give It Away
Wed Oct 15 2008
featuring Catalogue for Philanthropy: Greater Washington
In the mid-1990s, Barbara Harman and her husband, William Cain, enjoyed a spike in the value of some stocks they'd held for years. Longtime college professors, they'd already set aside enough money for their own retirement, so they decided to give away most of the unexpected windfall -- about $400,000. Then came the tough part: determining how best to donate their money. It's an enviable challenge, and one a growing number of older Americans are facing.