Luis and Maria Support Students by Gifting an Investment Annuity
Luis and Maria love their family above all else. They are proud of their adult children and love spending time with their grandchildren. They grew up with modest means and value hard work and planning. They also are compelled to give back to the community that has given their family so many opportunities. Luis purchased an Investment Annuity many years ago to help save for retirement. However, with their pension plans, Luis and Maria have plenty of retirement income and even have enough to contribute to their grandchildren’s College Saving Plans each year.
College is very important to Luis and Maria, and their son Miguel was the first member of the family to graduate from college. He and his sister started their paths at Phoenix College, which gave them a solid foundation – and contributed greatly to their success. Luis and Maria want to demonstrate their belief in higher education and are interested in giving back to their community.
Luis talked to his advisor about the Investment Annuity, and he learned that the growth would be taxed if they left it to Miguel and Jennifer, so they started exploring options of what they could do with the annuity. Maria thought it would be a good idea to show their grandchildren their commitment to education while supporting the Hispanic Community, so she suggested they create a scholarship fund at Phoenix College with the funds in the annuity. They share stories about the students who benefit from the scholarship with their family and they are thrilled about the positive impact they are having on students’ lives.