Magical Moments: Why Road Scholar Lynn Nelson Supports Road Scholar
Lynn Nelson and her husband, Chuck, had a code phrase for when they experienced something truly amazing on a Road Scholar program — they would simply look at one another and say quietly, “magical moment.”
Together, they experienced countless magical moments together on Road Scholar programs but their travels together ended in 2011 as Lynn retired early in order to become a full-time caregiver for Chuck.
Lynn Nelson
As he entered a memory care center, staff there encouraged her to take some time for herself and “get away” here and there. When her husband passed away, Lynn moved to be closer to her son and his family.
As Lynn continues to explore the world with Road Scholar — she has five learning adventures planned for this year and has introduced her granddaughters to the joys of educational travel — she wants to ensure that Road Scholar is here for years to come. As she looked at her financial plans, she made a decision to support Road Scholar through her IRA.
“After my husband died, my financial advisor explained to me that I was really going to be hit with taxes,” says Lynn. “He said that I should consider looking into a qualified charitable distribution (QCD) from my IRA, and to find something that I’m well connected to. I knew that Road Scholar was definitely an organization that I wanted on that list.”
Lynn found that a QCD was a tax-smart way to make an impact to Road Scholar by allowing her dollars to go further. Some of the benefits of giving via QCD include:
- The value of these gifts will not be counted as part of your adjusted gross income, so you will not pay income taxes on the amount distributed directly as gifts.
- Keeping your taxable income lower may reduce the impact to certain tax credits and deductions, including Social Security and Medicare.
- Beginning in the year you turn 72, you can use your gift to satisfy all or part of your required minimum distribution.
- The tax benefit does not depend on itemizing.
As for why she has chosen to support Road Scholar this way, Lynn feels that it is obvious.
“You have to understand — Road Scholar gives back things you can’t just buy with money,” says Lynn. “The memories. The stretching of your mind. If you had told me when I was nine years old that I would someday do all of the things I have done, it would have been like imagining I was going to outer space. I’ve been very fortunate to do some incredible things and I don’t want to stop!”
Participants on a float in Argentina
For further information about tax-wise giving with QCDs in 2024 and whether they qualify for part or all of your RMD please contact Ann Lamond, Director, Planned & Major Gifts ann.lamond@roadscholar.org (877) 737-0664.
This information is not intended as legal or financial advice. We recommend you consult your plan administrator and your tax advisor or personal attorney to understand how the distribution requirements apply to your personal circumstances.