Comments on: A Case of Really Bad Timing http://www.consumerismcommentary.com/a-case-of-really-bad-timing/ A premier personal finance blog, established 2003. Within, Flexo discusses his own experiences with money, and he and other authors comment on a wide range of personal finance topics. Sun, 12 Feb 2012 20:01:44 +0000 hourly 1 http://wordpress.org/?v=3.3.1 By: Eric Toya http://www.consumerismcommentary.com/a-case-of-really-bad-timing/comment-page-1/#comment-133126 Eric Toya Fri, 18 Jan 2008 20:22:09 +0000 http://www.consumerismcommentary.com/2008/01/17/a-case-of-really-bad-timing/#comment-133126 Right, if the plan is to distribute the funds with the year, there is no benefit to using the Fidelity intermediary. Do you intend to make the donation anonymous? That would be one benefit. Otherwise, just send a check off to your charity of choice. Right, if the plan is to distribute the funds with the year, there is no benefit to using the Fidelity intermediary. Do you intend to make the donation anonymous? That would be one benefit. Otherwise, just send a check off to your charity of choice.

]]> By: jim http://www.consumerismcommentary.com/a-case-of-really-bad-timing/comment-page-1/#comment-133095 jim Fri, 18 Jan 2008 12:09:50 +0000 http://www.consumerismcommentary.com/2008/01/17/a-case-of-really-bad-timing/#comment-133095 I think that solution makes sense, let the $5k go perhaps until next year or even farther down the road. Ultimately you want the funds to appreciate (otherwise you would've contributed directly to the charity!) so give them some time. You might want to forgo contributing to the fund in the first place for short term contributions. I think that solution makes sense, let the $5k go perhaps until next year or even farther down the road. Ultimately you want the funds to appreciate (otherwise you would’ve contributed directly to the charity!) so give them some time.

You might want to forgo contributing to the fund in the first place for short term contributions.

]]> By: Flexo http://www.consumerismcommentary.com/a-case-of-really-bad-timing/comment-page-1/#comment-133057 Flexo Fri, 18 Jan 2008 00:00:35 +0000 http://www.consumerismcommentary.com/2008/01/17/a-case-of-really-bad-timing/#comment-133057 It was a last year contribution, actually. It's a contribution to an intermediary fund I set up at Fidelity, so I got the deduction for the full $5,000, even though it hasn't been "granted" to an organization yet. When I made the contribution, I had the option of a money market fund or a variety of mutual funds. I chose the S&P 500 fund. Knowing that I intended on distributing the full $5,000 within the year, I should have invested that amount in a money market, more friendly to short-term holding. I believe I have a solution that makes sense. I'll just leave this $5,000 in the account to grow over the long term, but I'll contribute more to the fund this year, with the intent of distributing that contribution instead. It was a last year contribution, actually. It’s a contribution to an intermediary fund I set up at Fidelity, so I got the deduction for the full $5,000, even though it hasn’t been “granted” to an organization yet. When I made the contribution, I had the option of a money market fund or a variety of mutual funds. I chose the S&P 500 fund. Knowing that I intended on distributing the full $5,000 within the year, I should have invested that amount in a money market, more friendly to short-term holding.

I believe I have a solution that makes sense. I’ll just leave this $5,000 in the account to grow over the long term, but I’ll contribute more to the fund this year, with the intent of distributing that contribution instead.

]]> By: Eric Toya http://www.consumerismcommentary.com/a-case-of-really-bad-timing/comment-page-1/#comment-133052 Eric Toya Thu, 17 Jan 2008 22:29:50 +0000 http://www.consumerismcommentary.com/2008/01/17/a-case-of-really-bad-timing/#comment-133052 Was this a one time, this year only contribution? If you distribute the funds now, you have missed out on a potential tax loss, and the charity that will still benefit from you contribution benefits a bit less. I agree with Jim. Don't be in a hurry to distribute the funds. Let it build a bit. Make another contribution next year. See where it is then. Was this a one time, this year only contribution? If you distribute the funds now, you have missed out on a potential tax loss, and the charity that will still benefit from you contribution benefits a bit less.

I agree with Jim. Don’t be in a hurry to distribute the funds. Let it build a bit. Make another contribution next year. See where it is then.

]]> By: jim http://www.consumerismcommentary.com/a-case-of-really-bad-timing/comment-page-1/#comment-133048 jim Thu, 17 Jan 2008 20:42:38 +0000 http://www.consumerismcommentary.com/2008/01/17/a-case-of-really-bad-timing/#comment-133048 I think you should treat it like any investment account except that instead of selling you will donate it, so perhaps this 5000 should what you plan to donate in 2009? That way you don't let these swings affect you. I think you should treat it like any investment account except that instead of selling you will donate it, so perhaps this 5000 should what you plan to donate in 2009? That way you don’t let these swings affect you.

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