Many charities will not issue immediate gift annuities for donors under age 55 or 60. What’s more, arranging for an annuity generally is not a good idea for people younger than that. You will be locking in fixed payments that won’t increase to keep up with inflation.

Nevertheless, some charities and nonprofit organizations will offer deferred gift annuities. George Adams might make a donation to his alma mater now, when he is 50 years old, and get a promise of annuity payments that will start at age 65, when he is retired and in a lower tax bracket.

Today, a 65-year-old donor would get a partial tax deduction and an annuity of $3,000 (6 percent) a year on a $50,000 donation. If George donates $50,000 now and lets the university have the use of the money for the next 15 years, he might be promised $6,000 a year (12 percent) for the rest of his life, once payouts start.