Did you know that the PACF has “regret mitigation” services? We’re only half kidding!
Not surprisingly, financial regrets are common, with those related to personal finances among the most frequent. Of recently surveyed American retirees, 75% wish they’d started saving earlier, and 62% wished they’d saved more money for their golden years.
On the personal side of the equation, people frequently also regret failing to show kindness when someone was in need. These types of regrets can be uncovered in the flipside of the well-documented motivations for giving in the first place. In short, people want to help others and, upon reflection, they often regret not doing so.
The topic of regret is getting a lot of play. In his 2022 book, The Power of Regret: How Looking Backward Moves Us Forward, Daniel Pink describes the results of his years of research on human regret. Pink identifies different types of regret and offers readers the perspective that not all regrets need to act as negative forces if they inspire you to behave differently moving forward.
The experienced team at the PACF can help you avoid charitable giving regrets, especially by making it easy for you to activate your charitable intentions in the most tax-effective ways possible to make an even bigger difference in the causes you care about.
For example, grow your philanthropy through planned giving. In many cases, the PACF can help identify ways you can support your favorite charities at even higher levels than you thought possible by deploying planned giving techniques such as bequests and charitable remainder trusts. Designating your fund at the PACF as the beneficiary of your IRA, for example, is especially powerful.
Mr. James and Mrs. Trudie Schaughency (pictured above) will forever have a legacy in our region thanks to Mrs. Schaughency’s contribution to our community through a planned estate gift to the PACF. By naming the Foundation as a beneficiary of her estate, Mrs. Schaughency will create the James F. and Trudie A. Schaughency Charitable Fund.
When asked why she made such a commitment Mrs. Schaughency said, “Jim and I had a most interesting, exciting and wonderful life. Hopefully we can in some small way enable others to enjoy a more interesting and productive life.”
Through her gift, Mrs. Schaughency will continue she and Jim’s ongoing support to several organizations plus provide support for the arts in our region. The PACF is thankful for their commitment and we are humbled to welcome Mrs. Schaughency to the Foundation’s Legacy Society.